July 30, 2014 / 12:21 PM / in 3 years

UK appeal court reserves judgment in LME warehousing case

LONDON, July 30 (Reuters) - A British appeal court declined on Wednesday to make an immediate ruling in a case about the London Metal Exchange’s (LME) effort to implement tough warehousing rules to cut backlogs.

A three-judge panel “reserved judgment” on whether to overturn or uphold an original March ruling in favour of Russian aluminium company United Company Rusal.

The original judgment halted a key reform of the LME’s warehouses because it regarded the consultation process as “unfair and unlawful”. (Reporting by Eric Onstad and Alexandra Reza; editing by Susan Thomas and Louise Heavens)

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