Stockholm Arbitration Report (SAR) - (Individual Back Volumes)
Stockholm Arbitration Report (SAR) - (Individual Back Issue)
Preview Page SAR 2003 - 1
Subject matter:
Whether an award was based on matters not submitted by the parties to
the arbitrators.
Finding:
The arbitral tribunal’s reasons constituted a legal qualification of the
circumstances invoked by a party in the course of the proceedings, and not
a matter which had not been submitted by the parties to the arbitrators.
Parties:
Claimant: Rolf Gustafsson (Sweden)
Respondent: Länsförsäkringar Bergslagen-Wasa ömsesidigt (Sweden)
Place of court proceedings:
Sweden
Applicable law:
The Swedish Arbitration Act of 1929
Excerpts below are an unofficial translation of the proceedings in the
Västerås District Court and the Svea Court of Appeal.
SUMMARY
In August 1990, Länsförsäkringar Bergslagen-Wasa ömsesidigt
(”Länsförsäkringar”) – an insurance company - entered into a consortium
agreement with five other parties for the purpose of investing in the
Swedish company PKD. The initiative for the investment came from Rolf
Gustafsson, who was one of the other five investors.
Rolf Gustafsson had earlier instructed a Swedish bank to draw up an
investment memorandum for the purpose of presenting PKD for potential
