Vijay Construction (Pty) Ltd v Eastern European Engineering Ltd (MA 128/2017) [2017] SCSC 380 (9 May 2017)

Vijay Construction (Pty) Ltd v Eastern European Engineering Ltd (MA 128/2017) [2017] SCSC 380 (9 May 2017)

The court granted a stay of execution of the arbitral award and judgment, finding a substantial question of law and balancing the interests of both parties, but imposed as a condition that Vijay provide good and sufficient security in the sum of eight million euros within 21 days.

Citation
[2017] SCSC 380
Parties
Applicant: Vijay Construction (Proprietary) Limited; Respondent: Eastern European Engineering Limited
Court
Supreme Court
Jurisdiction
Seychelles
Judgment Date
9 May 2017
Case Number
MA 128/2017
Procedural Posture
Civil Motion (stay of Execution) / Ruling on Application for Stay of Execution Pending Appeal
Outcome
Stay of execution granted subject to provision of security
Legal Topics
Stay of Execution, Enforcement of Foreign Arbitral Awards, Security for Judgment, Appeals
Source Language
English
Civil Procedure Arbitration Stay of Execution Enforcement of Foreign Arbitral Awards Security for Judgment Appeals

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Parties

Vijay Construction (Proprietary) Limited

Applicant

Eastern European Engineering Limited

Respondent

Procedural Posture

Civil Motion (stay of Execution) / Ruling on Application for Stay of Execution Pending Appeal

Legal Issues

  1. 1 Whether a stay of execution of a foreign arbitral award, declared executory and enforceable by judgment, should be granted pending appeal
  2. 2 What terms should be imposed for the grant of a stay of execution

Ratio Decidendi

The court granted a stay of execution of the arbitral award and judgment, finding a substantial question of law and balancing the interests of both parties, but imposed as a condition that Vijay provide good and sufficient security in the sum of eight million euros within 21 days.

Court Disposition

Stay of execution granted subject to provision of security

Orders

  • Vijay to provide good and sufficient security to the satisfaction of the court in the sum of eight million euros, in the form of money or properties, within 21 days, to be deposited with the Registrar of the Supreme Court.
  • Matter returnable on 31 May 2017 at 1:45 p.m.