Ialu (I think that's what I'll call him; any thoughts on that name?) would probably accept a challenge of personal combat out of pure arrogance. That is, unless he gets humbled along the way of his ascent.

He wouldn't play fair, though. He would come with some sort of treachery planned or trick up his sleeve, and using that he would try to beat the Kraken at its own game. That's probably Ialu's great weakness: he can't turn down a challenge. It will be rough for him.