C v D

Bernard Eder QC and Stephen Houseman (instructed by Allen & Overy LLP) for the Claimant Jonathan Hirst QC, Robert Howe and Shaheed Fatima (instructed by Robin Simon LLP) for the Defendant Hearing dates: 20-21 June 2007 ____________________

D applies for these proceedings to be stayed until after the conclusion of any challenge by it to the Partial Award and/or any subsequent Award in the courts of the United States. It is D's expressed intention to mount such a challenge in the Southern District of New York after the arbitrators have determined the remaining issues in the arbitration and issued their award in relation to them, if not before.

i) A foreign award can be a non-Convention Award if it falls within the second sentence of section 202 of the Federal Arbitration Act (the FAA) which provides as follows:-

ii) A non-Convention award is governed by Chapter 1 of the FAA which permits a party to an arbitration to seek to confirm, modify or vacate an arbitration award pursuant to sections 9-11 in any US court where venue is proper under the general federal venue statute. Although not expressly stated in Chapter 1, a manifest disregard of New York Law is, by virtue of binding authority, a ground for review.

iii) The right of review under Chapter 1 of the FAA provides for a minimum standard of review from which the parties cannot derogate by contract.