11.1.1 Arbitrator’s power to make a declaratory award.

THE FACTS

In 1988 the claimant company Exotic Video Limited (EV), took a lease of business from Isle of Mud Developments plc (IMD plc), respondents. The claimants covenanted with the respondents not to assign without the lessors’ consent. The respondents in turn covenanted not to withhold consent unreasonably.