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ASIA’S ARBITRATION CENTRES: CREDIBLE ALTERNATIVES FOR RUSSIAN PARTIES?

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Kent Phillips,
со-глава арбитражной практики и партнер в сингапурском офисе
фирмы «Berwin Leighton Paisner LLP»

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ASIA’S ARBITRATION CENTRES: CREDIBLE ALTERNATIVES FOR RUSSIAN PARTIES?

  1. 1. ASIA’S ARBITRATION CENTRES: CREDIBLE ALTERNATIVES FOR RUSSIAN PARTIES? Kent Phillips, со-глава арбитражной практики и партнер в сингапурском офисе фирмы «Berwin Leighton Paisner LLP»
  2. 2. www.blplaw.com Page 2 © Berwin Leighton Paisner Topics for today • Context • Emergence of Hong Kong and Singapore • Key features • Arbitrating in China • Developments in Asia • Some conclusions for Russian parties
  3. 3. The present • Market for neutral venues • London courts – high profile cases • London, Paris, Stockholm and other European arbitral seats www.blplaw.com Page 3 © Berwin Leighton Paisner
  4. 4. The future? • Improvements in Russia • Sanctions and geo-political changes? • More competition between dispute resolution methods and seats • Credible alternatives in Asia www.blplaw.com Page 4 © Berwin Leighton Paisner
  5. 5. Arbitration in Asia • Nationalism and increasing choice • Singapore and Hong Kong pre-eminent • Global status - consistently attract cases unconnected with Hong Kong or Singapore www.blplaw.com Page 5 © Berwin Leighton Paisner
  6. 6. Statistics • SIAC - 222 cases for 2014, total value $4b, 70% international, parties from 58 countries • SIAC - fourth most popular institution (after LCIA, ICC and ICDR) • Singapore - third most popular seat (ICC’s statistics) • HKIAC - 260 cases for 2013, total value $2b, 90% international • Significant growth over last 5 years www.blplaw.com Page 6 © Berwin Leighton Paisner
  7. 7. Singapore and Hong Kong - advantages Fundamental advantages •Rule of law •Fair, neutral, independent, efficient courts •English law based •Legal profession •Language www.blplaw.com Page 7 © Berwin Leighton Paisner
  8. 8. Singapore and Hong Kong - advantages Arbitration specific advantages •State of the art Model Law based legislation - International Arbitration Act (Cap 143) - Arbitration Ordinance 2013 •New York Convention www.blplaw.com Page 8 © Berwin Leighton Paisner
  9. 9. Singapore and Hong Kong - advantages “The courts do not and must not interfere in the merits of an arbitral award and, in the process, bail out parties who have made choices that they might come to regret, or offer them a second chance to canvass the merits of their respective cases. This important proscription is reflected in the policy of minimal curial intervention in arbitral proceedings, a mainstay of the Model Law and the IAA.” Chief Justice Sundaresh Menon in AKN v ALC [2015] SGCA 18 www.blplaw.com Page 9 © Berwin Leighton Paisner
  10. 10. Singapore and Hong Kong - advantages • National champions - SIAC and HKIAC • International leaders – ICC, ICDR • Specialists - WIPO, SCMA • Leading arbitrators • Facilities www.blplaw.com Page 10 © Berwin Leighton Paisner
  11. 11. Arbitrating in China • Foreign related arbitration cases – 1500+ (2013) • Arbitration Law (1995) • New York Convention • PRC seat requires institutional arbitration • Arbitrators • Procedural differences • Language www.blplaw.com Page 11 © Berwin Leighton Paisner
  12. 12. Arbitrating in China: positive developments • Better institutions – CIETAC, BAC and many other ‘commissions’ • Example: CIETAC - 375 of its 1256 cases ‘international’ (2013) - HK sub-commission opened (2014) - Up-to-date rules • SPC’s initiatives to support arbitration www.blplaw.com Page 12 © Berwin Leighton Paisner
  13. 13. Arbitrating in China: problem areas • Local subsidiaries and domestic arbitration • Institutions are ahead of the legislation • PRC seat and foreign institutions – e.g. ICC clause Shanghai seat • CIETAC split www.blplaw.com Page 13 © Berwin Leighton Paisner
  14. 14. China as an international hub • Positive outlook, but lacking some fundamental advantages of Singapore and Hong Kong • Some important questions not conclusively settled, or fix is untested • International Hub? • Note: PRC specific drafting for arbitration clauses www.blplaw.com Page 14 © Berwin Leighton Paisner
  15. 15. Key developments in Asia - institutions • Emergency arbitrators • Expedited arbitration • Multi-party situations • Fee structures • Arb-med-arb www.blplaw.com Page 15 © Berwin Leighton Paisner
  16. 16. Key developments – cases of wider importance Cases of wider importance now being resolved in Asia Example: Astro v Lippo •Singapore award, not challenged or set aside •Indonesia refused to enforce •Singapore refused to enforce •Hong Kong has enforced www.blplaw.com Page 16 © Berwin Leighton Paisner
  17. 17. Key developments - more choice • Singapore International Commercial Court • SIAC/SIMC Arb-med-arb Protocol • CIETAC sub-commission in Hong Kong www.blplaw.com Page 17 © Berwin Leighton Paisner
  18. 18. Singapore and Hong Kong Singapore or Hong Kong? www.blplaw.com Page 18 © Berwin Leighton Paisner
  19. 19. Conclusion • Asia’s leading seats have never had more to offer • Singapore and Hong Kong have global standing • A logical choice for Russian parties www.blplaw.com Page 19 © Berwin Leighton Paisner
  20. 20. ASIA’S ARBITRATION CENTRES: CREDIBLE ALTERNATIVES FOR RUSSIAN PARTIES? Kent Phillips, со-глава арбитражной практики и партнер в сингапурском офисе фирмы «Berwin Leighton Paisner LLP» This document provides a general summary only and is not intended to be comprehensive. Specific legal advice should always be sought in relation to the particular facts of a given situation.

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