ERHC Energy Inc (ERHE)

[kingpindg]

As mentioned before, the LCIA has strict confidentiality rules that remain in force even after the proceedings are closed. This confidentiality, thusly, acts as a gag order as relates to the proceedings. However, confidentiality with respect to an arbitration proceeding should not prevent the filing of company financial information, and ERHC did not present that confidentiality as an affirmative defense in their response to the SEC.

Publically traded companies, if required, can make the outcome of an arbitration public, as ERHC did.


26. Is the final outcome of an arbitration made public?

No. LCIA arbitration is a private process, and the LCIA Arbitration Rules have strict confidentiality obligations, which apply to the parties, the arbitrators, and the LCIA itself. Unless all parties agree, any documents relating to the arbitration, the award, and the outcome will not be made public.

Sometimes, the outcome of an arbitration is made public where a party is required to make certain information public (for example, because it is a publicly listed company) or where a winning party needs to go to a court to force the losing party to comply with the award. However, if a party goes to court they can often ask to keep things confidential, and the court will usually cooperate.


https://www.lcia.org/frequently_asked_questions.aspx




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