In the latest in the long-running Cukurova saga, the Court of Appeal has reversed a decision of the Commercial Court Judge which found that the (relatively) new Arbitration Act in BVI (2013) had taken away the Court’s jurisdiction to grant anti-arbitration injunctions.
Having lost the original arbitration pursuant to an award made in Geneva on 1 September 2011 (Final Award); and having failed on their application to set aside the enforcement judgment of the High Court in BVI dated 24 October 2011 (Enforcement Judgment) before the High Court in BVI, the Court of Appeal and the Privy Council, Cukurova A.S. commenced arbitral proceedings before a second arbitral tribunal.
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