Introduction

[1] This is an application by the respondent for a stay of winding-up proceedings pending reference to arbitration pursuant to s 10 of the Arbitration Act 2005 , as documented in encl 18 which also included the respondents application for a striking out of the petition, which was to be heard separately as agreed by the parties.

[2] At the conclusion of the hearing, I declined the stay application, and stated my principal reasons for the decision. This judgment contains the full reasons for the dismissal of the same, and discusses the relevance of s 10 of the Arbitration Act 2005 to winding-up proceedings.

Key Background Facts

[3] The petitioner is a company incorporated under the Labuan Companies Act 1990 . It is the registered owner of two vessels, namely Semua Perdana and Semua Perkasa which had been chartered b