The applicant sought to enforce two arbitration awards totaling over $4 million against the respondent real estate developer.
Pending the hearing of the enforcement application and the respondent's application to set aside the awards for reasonable apprehension of bias, the applicant moved for a preservation order under Rule 45.01 or a Mareva injunction to prevent the respondent from dissipating its remaining assets.
The court dismissed the motion, finding that Rule 45.01 was inapplicable because the applicant claimed no property interest in the assets, and a Mareva injunction was unwarranted because the applicant failed to establish a real risk that the respondent would dissipate its assets to avoid judgment.
