Jennifer Haywood writes for LexisNexis

In an analysis published by LexisNexis, Jennifer Haywood discusses the practical implications of applications for payment into a US account or into court under section 44 of the Arbitration Act 1996 (O v C [s.44]).

Faced with an application for payment of the proceeds of a sale of cargo into a blocked account with a US financial institution, the judge ordered payment into court. Sir Nigel Teare decided that there was no real risk of the claimant being prosecuted for breaching sanctions by making a payment into court and a payment into court was more likely to give effect to the arbitration than a payment to a blocked account held at a US financial institution. 

Click here and register for one week of free access to read Jennifer’s article.