On 6 October 2020, the International Arbitration (Amendment) Act (the “Act”) was passed by the Singapore Parliament. The International Arbitration Act (the “IAA”) was last amended in 2012. The arbitration landscape has significantly changed since then. In particular, Singapore has experienced a growing number of multi-party arbitrations, which may be delayed or stalled if the parties are unable to agree on a mechanism to appoint the tribunal, since the IAA did not provide for any…
In a recent judgment from the Singapore International Commercial Court (“SICC”),[1] the International Judge refused an application to…
Introduction[1] In December 2019, the Singapore Court of Appeal (“SGCA”) in BNA v BNB ruled on the interpretation…
1. Introduction[1] Once an arbitral award is issued, it becomes final and binding. However, the award may contain an error. For example, it may order payment of an incorrect sum or it may have entirely omitted a specific relief sought by a party. Unless the applicable law provides for corrective measures and a party undertakes them in a timely manner, the parties will be bound by the award, even if it contains such errors. Under…
When investing in developing countries, many foreign investors have concerns as to their remedies in the event of…
Introduction Under Hong Kong law, a company shall be deemed to be unable to pay its debts if…
Executive summary In Energy City Qatar Holding Company v Hub Street Equipment Pty Ltd [2020] FCA 1116, the Federal Court of Australia (FCA) enforced an arbitral award as a judgment of the court in accordance with section 8(3) of the International Arbitration Act 1974 (Cth) (IAA). Notably, the FCA enforced the award in circumstances where the respondent did not participate in the proceedings but later attempted to raise procedural irregularities to prevent enforcement of the…
The dispute resolution clause is often referred to as the “midnight clause” as it is commonly reviewed at…
In the recent decision of Tianjin Jishengtai Investment Consulting Partnership Enterprise v Huang [2020] FCA 767, the Federal…
The International Chamber of Commerce (“ICC”) recently published its full statistical report for the year 2019,[1] which revealed a slight increase in the number of arbitration cases registered with the ICC’s International Court of Arbitration in 2019, as compared to 2018. As we have done in previous years,[2] we compare the caseload statistics of various arbitral institutions over the past few years in this article, and we analyze whether the popularity of arbitration continues to…