CL-2024-000678 - [2025] EWHC 2531 (Comm)

Subject to one possible qualification, the appeal fails.

The possible qualification arises from AML’s case as to the meaning of paragraph 398(1)(a) of the Award, and whether it extends to prices charged by AMLNA or AML China to the retail dealers in their respective territories. If either of the parties think it desirable for this Court to make an order to clarify that any comparator price must be one charged by AML, and that prices charged by AMLNA or AML China do not qualify, I will in principle be prepared to receive submissions on this.

However, for reasons that I have already given, my own view is that this would at most make clearer what the Award is already intended to convey. Furthermore, it was a somewhat peripheral point before me; in particular, it was not the basis on which AMMENA sought or obtained permission to appeal. In other words: this can have no bearing on costs.