ALYK (H.K.) Limited v Caprock Commodities Trading Pty Limited and China Construction Bank Corporation [2015] NSWSC 1006

Supreme Court New South Wales

Medium Neutral Citation: ALYK (H.K.) Limited v Caprock Commodities Trading Pty Limited and China Construction Bank Corporation [2015] NSWSC 1006 Hearing dates: 26 June 2015 Decision date: 24 July 2015 Jurisdiction: Equity Division Before: Black J Decision: Order that arbitration award be enforced as a judgment of this Court pursuant to s 8(2) of the International Arbitration Act 1974 (Cth). The sum of US $20,000,000 paid into Court by the Second Defendant be paid to the Plaintiff together with any interest earned on that amount. Order that the sum of AU $1,000,000 paid into Court by or on behalf of the Plaintiff be paid to the Plaintiff together with any interest earned on that amount. The costs of the Plaintiff's application made on 14 December 2012, as reserved on that day, and of the hearing on 26 June 2015, be paid by the First Defendant, as agreed or as assessed. Liberty to restore the issues as to whether, and to what extent, there should be judgment in favour of the Plaintiff against the First Defendant in respect of amounts of USD 2,384,000 and EUR 500,000 or any part of them. Catchwords: ARBITRATION – enforcing foreign arbitration awards – where money previously paid into New South Wales Supreme Court as a result of a judgment – whether to enforce foreign award as judgment of the Court under s 8 of the International Arbitration Act 1974 (Cth).

ARBITRATION –enforcing foreign arbitration awards – where allegations of bias of arbitral tribunal – whether breach of natural justice for the purposes of s 8(7A)(b) of the International Arbitration Act 1974 (Cth) – whether foreign award should not be enforced for reasons of public policy under s 8(7)(b) of the International Arbitration Act 1974 (Cth).