Ann: Phosphagenics Receives Further Arbitration Process Update, page-20

We are at the pointy end of proceedings… the emoji marks where we are at.

The draft award is first reviewed by the Counsel/Assistant Counsel in charge of the case, with the aim of ensuring that the form of the award conforms to the New York Convention and the SIAC has an internal checklist to be followed in this respect.

After the Counsel/Assistant Counsel in charge has completed his/her review, the draft award is sent to the SIAC Registrar. The Registrar reviews the award again and may suggest modifications as to the form of the award and, without affecting the Tribunal's liberty of decision, may also draw its attention to points of substance.

The Counsel/Assistant Counsel will then send a marked-up award back to the Tribunal (Arbitrator) who is expected to consider the comments before signing the award and returning it to the SIAC for notification to the parties. The Registrar will transmit certified copies to the parties upon the full settlement of the costs of arbitration.

I haven’t been able to find any information on the typical duration of the Arbitrator’s final review, but it is noted that suggested modifications for top-tier Arbitrators would typically relate to only minor errors that are quickly rectifiable. While we don’t know how well-regarded this Arbitrator is, we do know that s/he has been described as being a “stickler for detail”. We also know that it is perceived by arbitration practitioners that “top” Arbitrators take longer to draft awards because they juggle multiple cases.

Therefore, it could well be that the Arbitrator’s final review will be quite swift. I would expect s/he would like to sign off the award prior to the 12 month point of November 4.