News and developments
STAY OF RM25 MILLION ADJUDICATION DECISION ON MERDEKA 118 PROJECT SUCCESSFULLY OBTAINED
have successfully obtained an Order from the Kuala Lumpur High Court (“High Court”) for a conditional stay of an Adjudication Decision for RM25mil (“AD”) pending arbitration in favour of its client (“Contractor”) against the counterparty (“Subcontractor”). Upon reading and hearing submissions from counsels for both parties, the High Court allowed the Application with no order as to costs, on the ground that there is a risk that Subcontractor will be unable to repay the Contractor if the Contractor succeeds in arbitration. The High Court granted a stay and ordered that the adjudicated sum be held by solicitors as stakeholders until the disposal of the arbitration proceedings.