Summary

Background

The applicants seek to enforce an award of a foreign arbitral tribunal as a judgment of this Court under s 8(3) of the International Arbitration Act 1974 (Cth).

The first applicant is LandOcean Hong Kong Investment Holding Group Ltd (LandOcean HK). It is incorporated in Hong Kong, and has its registered office in that territory.

The second applicant is New JCM Group Co Ltd (New JCM), which was formerly known as LandOcean Energy Services Co Ltd. It is incorporated in the People's Republic of China, and has its registered office in Beijing. New JCM owns all the shares in LandOcean HK.

The first respondent is West Indies Exploration Company Ltd (West Indies Exploration). It is incorporated in the Republic of Trinidad and Tobago and, as far the evidence reveals, has its last known registered office at 124-126 Edward Street, Port of Spain, Trinidad and Tobago.

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Pursuant to s 8(3) of the International Arbitration Act 1974 (Cth), the applicants have leave to have the final award dated 16 October 2024 made in LCIA Case No. 215235 by Mr Thomas Webster (Presiding Arbitrator), Dr Benny Lo and Ms Ruth Teitelbaum, including as amended by the Tribunal's addendum dated 3 December 2024 (Award) be enforced by this Court as if the Award was a judgment of this Court.

ARBITRATION - ex parte application for enforcement of a foreign arbitral award under s 8(3) of the International Arbitration Act 1974 (Cth) - where the requirements are satisfied (or substantially satisfied) and there is no apparent reason why the award should not be enforced - two stage process - applicable exchange rates and interest rates - judgment entered but stayed pending determination of any challenge by the respondents.