Summary

By an originating application filed on 16 September 2025 the claimant, South Pacific Oil Limited (the "Claimant"), sought to set aside a final award dated 28 August 2025 (the "Final Award") made against it in favour of Pacific Islands Energy Pte Ltd (the "Defendant") in SIAC Arbitration No. 108 of 2023 (the "Arbitration"). The Final Award ordered the Claimant pay the Defendant US$18,795,413.69 and simple interest thereon at 8.34% per annum from 28 May 2024 until the date of full payment. The Final Award also ordered the Claimant pay sums in respect of the Defendant's costs and the arbitration fees.

The originating application also sought a declaration that the Tribunal erred in making what was described as a negative jurisdictional ruling in respect of the question of whether the liquidated damages claimed by the Defendant against the Claimant in the Arbitration were penal in nature and therefore unenforceable.

The Claimant sought relief under s 10(3)(b) of the International Arbitration Act 1994 (2020 Rev Ed) (the "IAA") in respect of the negative jurisdictional ruling and under s 24(b) of the IAA and Art 34 of the UNCITRAL Model Law on International Commercial Arbitration (the "Model Law") in respect of the application to set aside the Final Award.

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