"The way I read that, the arbitration process must be unencumbered by any other attempts to resolve the dispute. No other court, tribunal or dispute settlement procedure of any kind. So, arbitration seems very much to be an either/or choice."

Hoov, while your statement is generally correct, the parties can continue to negotiate and reach a settlement that the panel will enter as a judgment at the request of both parties. The complaintant (i.e. KRY) can also stay the proceedings.

Certainly, Hugo may go nuts as usual in the face of arbitration, and be unwilling to talk further, it is still technically an option that is available.