Key legal question
Whether the ICC tribunal had jurisdiction over the respondent and the claims/counterclaims under the PDA arbitration clause
Extracted holding
Yes. The respondent remained bound as a party to the PDA and its arbitration clause despite the management buy-out and internal transfer of rights.
Extracted reasoning
The tribunal and Federal Supreme Court interpreted the PDA to show that the subsidiaries named as parties were directly bound. No convincing reason showed a retroactive loss of party status after the buy-out; the clause and contract structure allowed concentration of rights within the group.