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In brief Even with the fiscal stimulus and other measures taken by the Federal and State governments in Australia, corporate insolvencies are likely to increase in coming months. Under Australia’s insolvency regimes, a distressed company may be subject to voluntary administration, creditor’s voluntary winding up or court ordered winding up (collectively, an external administration). Each of these processes raises different issues for the commencement and continuation of court and arbitration proceedings. In this alert, we consider…

The Federal Court of Australia (FCA) has enforced two ICSID awards against the Kingdom of Spain (Spain) in Eiser Infrastructure Ltd v Kingdom of Spain.[1] The FCA rejected Spain’s argument that it was immune from the jurisdiction of the Australian courts (asserted pursuant to sections 9 and 10(7) of the Foreign States Immunities Act 1985 (Cth) (Immunities Act)). The investors (Investors) involved in two ICSID arbitrations applied under s35(4) of the International Arbitration Act 1974…

On 31 October 2018, Australia was the 6th country to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP, also referred to as TPP-11). Vietnam is the 7th nation to ratify the CPTPP on 15 November 2018. Also ratified by Canada, Japan, Mexico, New Zealand and Singapore, the CPTPP will come into force on 30 December 2018 (60 days after Australia’s ratification). Other signatories yet to ratify the CPTPP are Brunei, Chile, Malaysia and…

Australian courts will not lightly set aside arbitral awards, including on public policy grounds. The recent case of Sino Dragon Trading Ltd v Noble Resources International Pte Ltd [2016] FCA 1131 demonstrates the Court’s systematic appraisal and ultimate dismissal of the applicant’s challenge to the arbitral award. The Court also confirmed in the separate costs judgment of Sino Dragon Trading Ltd v Noble Resources International Pte Ltd (No 2) [2016] FCA 1169 that unmeritorious challenges…