Summary

This is an application by the Claimants (jointly, "JHA") seeking to challenge the decision of an arbitration tribunal made in arbitration proceedings brought by JHA against the Defendant ("IKC"). The decision in question refused an application by JHA for interim measures and was embodied in a document titled "Procedural Order No. 4" (hereafter, "PO4"). JHA assert that PO4 was not in fact a procedural order at all but an award, and that it should be set aside and remitted to the Tribunal on grounds of serious irregularity within sections 68(2)(b) and/or (c) of the Arbitration Act 1996 (the "Act"), namely an excess of power and/or a failure to conduct the arbitral proceedings in accordance with the procedure agreed between the parties. Both irregularities are said to arise from the Tribunal's failure to give effect to an alleged agreement between the parties as to the merits threshold to be applied to applications for interim measures and instead adopting a different, more stringent test.

The underlying dispute in this case relates to the construction of a power plant in country C by JHA as contractor pursuant to a suite of contracts concluded on 5 March 2021 collectively referred to as the EPC Contract. In the usual way, JHA procured the issue by Santander of on demand bonds in favour of IKC, including an Advance Payment Bond and a Performance Bond (collectively, the "Bonds").