Summary

Introduction

1 The two claimants in this application seek to set aside a final award ("the Award") dated 21 February 2025 issued in favour of the defendant by a tribunal ("the Tribunal") in an arbitration ("the Arbitration") seated in Singapore and conducted under the 2021 Rules of Arbitration of the International Chamber of Commerce. To preserve the confidentiality attached to the Arbitration, the parties have consented to an order under s 23 of the International Arbitration Act 1994 ("the Act") for the parties' names and identifying features to be anonymised in these grounds of decision. I shall therefore refer to the jurisdiction in which the parties' dispute arose as Ruritania. For the same reason, I shall convert all sums of money that are denominated in the local currency of Ruritania into Singapore dollars at the current exchange rate, rounded off for simplicity.

2. The three parties to this application were the only three parties to the Arbitration. The first and second claimants in this application were respectively the first and second respondents in the Arbitration. The defendant in this application was the sole claimant in the Arbitration.

3. One of the unique features of the parties' dispute is that the two claimants in this application - ie, the two respondents in the arbitration - have a common holding company ("the Claimants' Holding Company"). The claimants are therefore related corporations (see 6 of the Companies Act 1967).

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Arbitration -- Award -- Recourse against award -- Setting aside