A first instance court had decided to override the arbitration clause in the parties’ agreement and retain jurisdiction over a dispute concerning a debt restructuring application, on the ground that this application was responsive to the business rescue application filed by the applicants, which fell outside the clause’s scope. On appeal, the Supreme Court of Appeal reversed, holding that the arbitration clause at issue was an international arbitration agreement governed by the International Arbitration Act (IAA), which mandates courts to stay an action relating to a matter covered by an arbitration agreement, and refer the dispute to arbitration, unless it finds that the agreement is null and void, inoperative or incapable of being performed (which was not the case here).