Instructed by Tepe in relation to enforcement of two arbitration awards and the return of securities by the defendant, an entity wholly owned by the Republic of Turkey. Enforcement sought by way of an arrest of the defendant's shareholding in two Jersey registered companies and the arrest of debts owed by the companies to the defendant.
Enforcement resisted by the defendant on the ground of state immunity. State immunity argument rejected and judgment for Tepe granted on 19 January 2015. Shares will be sold by the Viscount. Interim arrest over the debts lifted.