Arbitration and third parties: The Prestige again

The events giving rise to London Steam-Ship Owners' Mutual Insurance Association Ltd v Kingdom of Spain (The Prestige) [2023] EWHC 2473 (Comm); [2024] 1 Lloyd's Rep 199 have come before arbitrators, the English courts, the Spanish courts and even the Court of Justice of the European Union on a series of occasions. There is more to come.

The most recent decision, that of Butcher J, was concerned with various challenges to an arbitral award holding that a state can be liable in equitable damages for disregarding an arbitration clause in an insurance policy upon which the state had relied in order to claim against the insurers.