1. It has always been known that the day would come when the Court has to give a decision on judicial independence. That day has come. Judicial independence is not to be found in what the courts merely say. It is to be found in what the courts actually do. In other words, it is to be found in what the courts decide. My judgment continues under the following sub-headings :-

(1) Core question of law : absolute or restrictive immunity?.........2–5

(2) Facts...................................................................6–18

(3) Saw J’s ex parte order : enforcement, service and injunctions 19-20

(4) Discharged inter partes by Reyes J................................ 21

(5) Restored by Court of Appeal subject to a remitter ..............22-23

(6) Reyes J’s reasons ...................................................24-27

(7) Court of Appeal divided 2:1 .......................................28-29

(8) Reasons given in the Court of Appeal ............................30-31

(9) Present appeals brought .............................................32-33

(10) Conditions precedent satisfied ....................................34

(11) Article 158(3) interpretation/art.19(3) certificate? ..............35-61

(12) State immunity before the handover ..............................62-77

(13) Court free to decide and decide independently ..................78-129

(14) Restrictive immunity now ..........................................130-141

(15) Transactions underlying the awards ................................142-147

(16) No immunity ..........................................................148

(17) Waiver of immunity (if absolute) .................................149-165

(18) Either before the court or at an earlier stage ......................166-178

(19) Restrictive. Waived if absolute ...................................179

(20) Conclusion ............................................................180