Summary

Decision on the Defendant's Application to Strike Out the Claim

By Fixed Date Claim supported by affidavit evidence filed on 10 March, 2025, the Claimant sought an order that the Defendant pay the sum of $3.1 million as security for costs in respect of intended arbitration proceedings between the parties initiated by the Defendant. The claim is filed pursuant to sections 12 and 20 of the Arbitration Act, No. 11 of 2023 and section 522 of the Companies Act, Chap. 81:01.