Boru and Others -v- Tepe [2016] JCA 067C (18 March 2016)

Boru and Others -v- Tepe [2016] JCA 067C (18 March 2016)

Continuation of stay of execution is granted pending appeal as sale of shares would render appeal nugatory, appeal is made in good faith with realistic prospects, and stay should not be conditional on payment into court due to potential prejudice and non-neutrality. Security for costs is ordered in the sum of £100,000, excluding Turkish legal costs and additional partner costs.

Citation
[2016] JCA 067C
Parties
First Appellant: Boru Hatlari Petrol Taşmina AŞ; Second Appellant: Turkish Petroleum International Company Limited; Third Appellant: Botaş International Limited; Respondent: Tepe Inşaat Sanayii AŞ
Jurisdiction
Jersey
Judgment Date
18 March 2016
Procedural Posture
Appeal / Interlocutory Applications Pending Appeal
Outcome
Stay of execution granted in part; security for costs ordered.
Legal Topics
Stay of Execution, Security for Costs, Enforcement of Arbitration Awards
Civil Procedure Arbitration Sovereign Immunity Stay of Execution Security for Costs Enforcement of Arbitration Awards

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 9 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Boru Hatlari Petrol Taşmina AŞ

First Appellant

Turkish Petroleum International Company Limited

Second Appellant

Botaş International Limited

Third Appellant

Tepe Inşaat Sanayii AŞ

Respondent

Procedural Posture

Appeal / Interlocutory Applications Pending Appeal

Legal Issues

  1. 1 Whether stay of execution should be continued pending appeal
  2. 2 Whether stay should be conditional on payment into court
  3. 3 Whether security for costs should be ordered

Ratio Decidendi

Continuation of stay of execution is granted pending appeal as sale of shares would render appeal nugatory, appeal is made in good faith with realistic prospects, and stay should not be conditional on payment into court due to potential prejudice and non-neutrality. Security for costs is ordered in the sum of £100,000, excluding Turkish legal costs and additional partner costs.

Court Disposition

Stay of execution granted in part; security for costs ordered.

Orders

  • Paragraphs 3 and 8 of Royal Court Order dated 22 February 2016 stayed pending determination of appeal.
  • Security for costs ordered in the sum of £100,000.