British Virgin Island Supreme Court denies enforcement of ICC awards with deference to public policy of a friendly State and the principle of international comity

In a judgment dated 27 January 2023 (and made publicly available on 15 March 2023) the Commercial Division of the High Court of Justice of the British Virgin Island (BVI), Eastern Caribbean Supreme Court, denied the enforcement of three ICC arbitration awards rendered by a Tribunal, seated in Singapore, which awarded the claimants interest at 15% compounded annually rate – despite that rate being contrary to Thai law, the law governing contracts.