U.K. Judge Upholds $88.3 Million Award In Favor Of Reinsurer

LONDON - An English judge on Feb. 15 upheld enforcement of an $88.3 million arbitration award rendered in favor of a Monaco reinsurer, finding no evidence that the reinsurer engaged in "reprehensible or unconscionable conduct" during the arbitration proceedings. Gater Assets Ltd. v. Nak Naftogaz Ukrainiy, No. 237 (Eng. Comm. Ct., Queen's Bench Div.).

Mr. Justice Tomlinson of the English Commercial Court, Queen's Bench Division, denied Nak Naftogaz Ukrainiy's application to set aside the award, which had been rendered in favor of Monegasque De Reassurances S.A.M.

AO Ukragazprom contracted with AO Gazprom to transport natural gas by pipeline across Ukraine …