FG Hemisphere Associates LLC v Democratic Republic of Congo [2010] NSWSC 1394

FG Hemisphere Associates LLC v Democratic Republic of Congo [2010] NSWSC 1394

Both arbitral awards satisfy the requirements of the International Arbitration Act 1974 (Cth); the plaintiff, as assignee, is entitled to enforce them in NSW as judgments of the Court.

Parties
Plaintiff: FG Hemisphere Associates LLC; First Defendant: Democratic Republic of Congo; Second Defendant: Societe Nationale d'Electricite
Jurisdiction
Australia
Judgment Date
01 November 2010
Procedural Posture
Commercial Enforcement / Final Judgment
Outcome
Judgment for the plaintiff; declaratory orders and enforcement of arbitral awards; costs ordered on indemnity basis.
Legal Topics
Enforcement of Foreign Arbitral Awards, International Arbitration Act 1974 (cth)
Arbitration International Law Commercial Law Enforcement of Foreign Arbitral Awards International Arbitration Act 1974 (cth)

Case Brief

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Parties

FG Hemisphere Associates LLC

Plaintiff

Democratic Republic of Congo

First Defendant

Societe Nationale d'Electricite

Second Defendant

Procedural Posture

Commercial Enforcement / Final Judgment

Legal Issues

  1. 1 Whether foreign arbitral awards can be enforced in NSW pursuant to the International Arbitration Act 1974 (Cth)
  2. 2 Whether the plaintiff is entitled to relief as assignee of arbitral awards

Ratio Decidendi

Both arbitral awards satisfy the requirements of the International Arbitration Act 1974 (Cth); the plaintiff, as assignee, is entitled to enforce them in NSW as judgments of the Court.

Court Disposition

Judgment for the plaintiff; declaratory orders and enforcement of arbitral awards; costs ordered on indemnity basis.

Orders

  • Judgment for the plaintiff against the defendants for US$11,725,844.96 together with interest at 9% per annum on US$11,179,266.36 calculated based on each overdue instalment from due date to full payment;
  • Interest at 5% per annum on US$546,578.60 from 4 March 2001 to full payment;