Viterra BV v Shandong Ruyi Technology Group Co Ltd 2022 FCA 215 - 11 March 2022
Country
Year
2022
Summary
PRACTICE AND PROCEDURE - freezing orders - application to discharge freezing order - where freezing order made against a third party with Australian assets - where third party is the wholly owned Singapore-incorporated subsidiary of the China-incorporated arbitral award debtor - where proceedings to enforce arbitral award commenced in Singapore and in this Court - where award debtor has not been served - where award creditor proposes to execute a prospective judgment of a Singapore Court by a writ of seizure and sale in Singapore of the award debtor’s shares in the third party - whether processes of execution in Singapore on a Singapore judgment are processes available to maintain the third-party freezing order in Australia - whether assets of the third party which are beyond the reach of execution processes can be frozen - whether freezing order of third party’s assets can be maintained in order to maintain the value of the award debtor’s shares in the third party.
ARBITRATION - international commercial arbitration - freezing orders in anticipation of enforcement of arbitral award - where enforcement sought in this Court and in foreign courts - consideration of relevant principles.