- Adjournment of enforcement proceedings granted subject to provision of security (Naftogaz v Gazprom)
- What are the practical implications of this judgment?
- What was the background?
- What did the court decide?
- How did the court approach the exercise of its discretion?
- Case details
Arbitration analysis: Sir Michael Burton, sitting as a High Court Judge in the Commercial Court, granted Gazprom an adjournment of arbitral enforcement proceedings brought by Naftogaz on the condition that Gazprom provide suitable security in the form of undertakings and a cash payment into escrow of $200m. The conditional adjournment was granted by the court pursuant to section 103(5) of the Arbitration Act 1996 (AA 1996).
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