Arbitration: The $2bn question

• Covers the ongoing Supreme Court case of Republic of Mozambique v Privinvest Shipbuilding SAL (Holding) & Ors.
• Looks at the court’s guidance on applying for a stay under s 9 of the Arbitration Act 1996.

In the recent case of Republic of Mozambique v Privinvest Shipbuilding SAL (Holding) & Ors [2023] UKSC 32, the UK Supreme Court provided important guidance concerning the interpretation and application of s 9 of the Arbitration Act 1996 concerning the mandatory stay of proceedings which are brought in breach of an arbitration agreement. The decision will be of interest to practitioners who choose London as their seat of arbitration as well as those in jurisdictions with similar statutory provisions. The appeal, stemming from a pre-trial matter in ongoing Commercial Court proceedings, involves the Republic alleging a conspiracy entailing bribery and corruption to secure purported sovereign guarantees of around $2bn(£1.59bn). At the time of writing, the trial