Summary

By this application made before the issue of proceedings and on short notice, TTSJV W.L.L. ("TTSJV") and its parent companies sought an injunction:

to require BapCo Refining B.S.C. (Closed) ("BapCo") (a company incorporated in the Kingdom of Bahrain) to suspend its demand, in the sum of US$484,406,323, on a performance guarantee issued by HSBC Bank Middle East Ltd; and

to restrain BapCo from making any further demand on the performance guarantee or upon a retention bond issued by Mashreqbank pending further order of the court or of any emergency arbitrator that might be appointed by the London Court of International Arbitration ("LCIA").

Shortly after the hearing, I indicated that the application would be dismissed. This judgment sets out my reasons for refusing injunctive relief in this case.

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