Representation of Astragal in an Application to Confirm an Arbitral Award and Applications for Attachments and Security

Our firm represented Astragal in opposing an application filed in the District Court to confirm an arbitral award against it, along with related applications for temporary attachment orders and for the deposit of security. Following cross-examinations and a hearing, the court issued a decision accepting all of Astragal’s arguments. The application to confirm the arbitral award was struck out, the applications for attachment and security were denied, and the case was closed. The court adopted Astragal’s position and held that, so long as the parties have an agreed appellate mechanism with respect to the arbitral award, the award cannot be confirmed and no relief may be granted on its basis. In addition, the applicants were ordered to pay Astragal costs in the amount of NIS 8,500.