Update

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On 18 January 2016 the Privy Council handed down judgment in Anzen Limited Anors v Hermes One Limited [2016] UKPC 1 (Anzen). This judgment considered the effect of an arbitration clause which provided that, in certain circumstances:

… any Party may submit the dispute to binding arbitration.

The cases reviewed in our other BVI update all involved arbitration clauses which provided that certain disputes shall be referred to arbitration. Indeed, arbitration clauses using 'shall' are more common than 'may' clauses.