Bae, Kim & Lee publishes Arbitration Law of Korea: Practice and Procedure (Juris 2012)
In recent years, Korea has become an object of some attention in the international arbitration field. But less than 15 years ago, there was no “arbitration field” in Korea to speak of. I, myself, was a maritime lawyer and it was only a twist of fate – the request of a client – that put me in my first international commercial arbitration. With only my background in Korean litigation to draw on, I stumbled through the unfamiliar and unfixed procedural world of international arbitration.
We obtained a good result for the client in that case, but for me, the real impact of the case came in the form of an epiphany. I became convinced that Korea had a big future in international arbitratio [...]
HKIAC Administered Arbitration: New Rules for the New Lunar Year
The HKIAC has launched a consultation process to consider modifications to its Administered Arbitration Rules, which came into force on 1 September 2008 (the “Rules”).
Users of the Rules have been invited to comment on proposed amendments outlined in a HKIAC consultation paper dated 15 December 2011. A copy of the consultation paper can be found here.
A number of firms and individuals have already submitted comments as part of this process, which is a welcome move to ensure that the Rules continue to reflect the best of modern practice, in keeping with HKIAC’s status as one of the world’s pre-eminent arbitration institutions.
The Council’s overall view is that the existing Rules are worki [...]
Options Available To An Unsuccessful Party In An Arbitration
In Galsworthy Ltd of the Republic of Liberia v Glory of Wealth Shipping Pte Ltd [2010] SGHC 304 (“Galsworthy”), the Singapore High Court held that a losing party to an arbitration seeking to challenge an arbitral award had the “alternative and not cumulative options” of applying to set aside the award, or, applying to set aside any leave granted to enforce the award. This choice of wording is unfortunate because it gives the mistaken impression that the options described are mutually exclusive, when they are not.
The facts of the case are easy. There was a dispute over a charter party and an arbitration seated in London had issued an award against Glory of Wealth Shipping Pte Ltd ( [...]
New Hong Kong Arbitration Ordinance comes into effect
The new Hong Kong Arbitration Ordinance (Cap. 609) (the “Ordinance”) comes into effect today, having been approved by the Hong Kong Legislative Council at the end of last year. The Ordinance represents the culmination of many years of discussion and consultation and marks a significant milestone in the development of Hong Kong as a world-class international arbitration centre. Its stated intention is to facilitate the “fair and speedy” resolution of disputes, providing for maximum party autonomy and minimal court intervention (Section 3). In that respect, the Ordinance draws heavily on the internationally-recognised and accepted framework of the UNCITRAL Model Law (the “Model Law”), with [...]
Singapore Apex Court Lays Down Clear Framework for Arbitrability of Insolvency-Related Claims
The Singapore Court of Appeal issued a decision recently articulating a principled framework for the arbitrability of insolvency-related claims. It provides useful guidance on when an insolvency-related claim would be considered non-arbitrable under Singapore law. In seeking to strike the delicate balance between its robust pro-arbitration stance and its insolvency regime, the Court’s underlying philosophy strives to give the private consensual model of arbitration as much effect as possible, whilst using the tool of non-arbitrability to draw a clear line in the sand only when third-party interests are implicated under the insolvency regime.
In Larsen Oil and Gas Pte Ltd v Petroprod Ltd (i [...]
Reaching A Settlement Before the Arbitration Hearing
Will a court injunct arbitral proceedings if parties, before an arbitration hearing, allegedly reach a settlement agreement and a dispute subsequently arises over the existence of such an agreement? Is the tribunal functus?
Recently, the Singapore High Court in Doshion Ltd v Sembawang Engineers and Constructors Pte Ltd [2011] SGHC 46 (“Doshion”) rightly held that no injunction would lie in such an instance. It is a decision to be welcomed.
In that case, the two parties were parties to arbitration proceedings under certain construction contracts (“the Sub-Contracts”). The arbitration was scheduled to start on 28 February 2011. The claimant contended that an oral settlement was reache [...]
