Summary

In re the Arbitration Act No.11 of 2023. In re an application pursuant to Section 12 of the Arbitration Act No. 11 of 2023.

... The present 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 and seeks 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 arising from the termination of a construction contract that had been entered into between the parties on 25 April, 2025. ...