Emergency Arbitral Interim Orders in Cross Border Offshore Holdings
Emergency arbitral orders freeze offshore asset transfers and share registers within fourteen days, protecting equity value during joint venture deadlocks.
Ex Parte Arbitral Orders
Meaning
Temporary directions issued by a tribunal without prior notice to the responding party to prevent the destruction of evidence. These measures are used in exceptional circumstances where informing the other side would defeat the purpose of the application. The tribunal hears only the applicant before making the initial decision.
Immediate Protection
A party seeks this relief when there is a high risk of assets being hidden or documents being deleted. The use of ex parte arbitral orders allows the tribunal to act before the respondent can take evasive action. This surprise element is necessary to ensure that the final hearing has a meaningful outcome.
Full Disclosure
The applicant has a duty to present all relevant facts to the tribunal (including those that might help the absent party). A failure to be honest during the application for ex parte arbitral orders can lead to the immediate cancellation of the relief. This obligation ensures that the process remains fair despite the lack of a counter-argument.
Subsequent Challenge
The respondent has the right to a full hearing as soon as they are notified of the order. Following the issuance of ex parte arbitral orders the tribunal must schedule a meeting where both sides can argue the merits of the measure. This second stage allows the court to decide whether the temporary order should be extended or removed.