condonationlate noting of appealarbitral awardforeign currency loanexchange control regulationspublic policy
Tags
arbitrationcondonationappealforeign currencyexchange control
legislation
Statutes Cited
Supreme Court Act
Constitutional Court Act
Arbitration Act
Presidential Powers (Temporary Measures) Act
ai analysis
Case Summary
Key Issues
{"issue_text":"Whether condonation should be granted for late noting of appeal","issue_type":"procedural","dispositive":"yes","related_facts":"14-month delay, ongoing litigation"}
{"issue_text":"Whether the applicant has reasonable prospects of success on appeal","issue_type":"mixed","dispositive":"yes","related_facts":"Arbitral award conflicts with SI 33/2019"}
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background
Facts of the Case
Background
The applicant, a company, had obtained a foreign currency loan from the first respondent. A dispute arose over whether the loan could be repaid in local currency at 1:1 following SI 33/2019. An arbitrator ruled the debt must be paid in USD. The High Court registered the arbitral award. The applicant's appeal was struck off, then reinstated by the Constitutional Court, but again struck off. It now seeks condonation to file a fresh appeal.
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