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Article: Privy Council Curtails Obligation of Confidentiality in International Arbitration.(Case involving Associated Electric & Gas Insurance Services Limited (AEGIS) and European Reinsurance Company of Zurich is discussed)
- Article from:
- Mondaq Business Briefing
- Article date:
- June 11, 2003
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Confidentiality has always been referred to as one of the advantages of choosing arbitration over litigation. However, the extent of this right and its enforcement can be problematic. In a recent appeal to the Privy Council the scope of the principle of privacy in international commercial arbitration had to be considered1 .
Facts
The case involved two insurance companies, Associated Electric & Gas Insurance Services Limited (AEGIS) and European Reinsurance Company of Zurich (European Re) who had entered into a reinsurance agreement dated 31 March 1980. The agreement provided for arbitration in Bermuda. Two separate disputes regarding the obligation of ...