Conflict of Laws-recognition of foreign proceedings-enforcement of judgment debt-final and conclusive judgment for definite sum enforceable at common law-arbitral award made in country party to Convention on Recognition and Enforcement of Foreign Arbitral Awards enforceable in Cayman Islands under Foreign Arbitration Awards Enforcement Law (1997 Revision), s.5 and Arbitration Law (2001 Revision), s.22
Companies-corporate identity-lifting corporate veil-close supervisory relationship between corporate defendants not necessarily sham or façade, allowing assets of one to be treated as assets of other-no lifting of veil if creation of separate company as special purpose vehicle for lenders' security not exceptionable
Civil Procedure-joinder of parties-necessary and proper parties-company beneficially owned and controlled by defendant properly joined in enforcement of defendant's judgment debts-assets may be made available to satisfy defendant's debts and may be safeguarded by Mareva injunction against joined party as ancillary to cause of action against defendant
The plaintiffs applied to enforce a French arbitral award and an English High Court judgment against the third and fourth defendants and sought declarations that the first and second defendants' assets were to be available to satisfy those judgment debts.
TDM: Walker International Holdings Limited v Caisse Congolaise D'Amortissement (Republic of Congo), Republique Populaire Du Congo (Republic of Congo) - International Court of Arbitration - Final Arbitration Award Case 10030/AC/DB - 20 July 2000