AUSTRALIA 49 C

Federal Court of Australia, New South Wales Registry, General Division, 2 October 2018

(Hyundai Engineering & Steel Industries Co Ltd v. Alfasi Steel Constructions (NSW) Pty Ltd (later: Two Ways Constructions Pty Ltd)

02 - 10 - 2018

AUSTRALIA 49 C

Yearbook Yearbook Commercial Arbitration, S. W. Schill (ed.), Vol. XLIV (2019)
Jurisdiction United States
Summary

On 13 July 2018, the Federal Court granted the application to stay enforcement of a SIAC award pending an annulment action in Singapore, and directed the respondent to provide security until November 2019, when the Singapore action was expected to be heard. On 13 September 2018, the Court granted leave to proceed with the enforcement action: this was necessary as a consequence of voluntary administrators having been appointed for the respondent. By the present decision, the Court lifted the stay and granted enforcement, with the agreement of both the applicant and the recently appointed administrators, who had discovered that the respondent had never been in a position to provide the security ordered, and had not had sufficient time to consider the merits of the Singapore annulment application. See also the decisions of 13 July 2018 and 13 September 2018.

Related topics
601

The court discusses the conditions for granting adjournment of a proceeding relating to the recognition and enforcement of an arbitral award, and the court’s discretionary power to do so, as well the determination of “suitable security” and the power to request it.

Adjournment of decision on enforcement
AUSTRALIA 49 C