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Costs are split
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Corporate resolutions are suspended, but arbitrator refuses to rule on board composition or freeze company’s bank accounts
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Status quo needs to be preserved, given “incontestable” damages to SMIL’s situation, arbitrator rules
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Chad-controlled corporate organs held valid meetings, but they could not decide on SMIL’s quality as a shareholder given lack of clarity of nationalisation’s effects
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Both parties’ cases are debatable, emergency arbitrator notes in reviewing odds of success on the merits
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Lis pendens does not apply in proceedings for emergency measures
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Evicted shareholder has standing to contest decisions that led to their eviction
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There is urgency to maintain the status quo until full ICC tribunal is constituted
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Requested measures are provisional in character, since they will cease when the dispute is resolved
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Emergency arbitrator confirms jurisdiction over the case
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Urgent emergency measures are granted, three days before the Emergency Order is issued
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Parties debate identity of claimant in case at hand
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Background: Multiple arbitrations are filed in relation to corporate and legal battle over assets of oil consortium
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