THE APPLICABILITY OF MALAYSIA’S FEDERAL COURT RULING ON THE AUTHORITY OF SHARIAH ADVISORY COUNCIL IN CIVIL DISPUTES TO ARBITRATIONS ON ISLAMIC FINANCE AND CAPITAL MARKETS

The Central Bank of Malaysia Act 2009 (“Act“) designated Malaysia’s Shariah Advisory Committee on Islamic finance (“SAC“) as the authority for ascertaining Islamic law for the purposes of Islamic financial business. According to Section 2 of the Act, “Islamic financial business” encompasses “any financial business in ringgit or other currency which is subject to the … Read more

No U-Turns Ahead: Singapore Court of Appeal holds that commencement of court proceedings may lose you the right to later rely on arbitration agreements

In the recent landmark decision of Marty Ltd v Hualon Corp (Malaysia) Sdn Bhd [2018] SGCA 63, the Singapore Court of Appeal held that the commencement of court proceedings notwithstanding the existence of a binding arbitration agreement and without any explanation or qualification is in and of itself sufficient to constitute a prima facie repudiation … Read more

Inside Arbitration: Issue #6 of the publication from Herbert Smith Freehills’ Global Arbitration Practice

We are delighted to share with you the latest issue of the publication from the Herbert Smith Freehills Global Arbitration Practice, Inside Arbitration. In addition to sharing knowledge and insight about the markets and industries in which our clients operate, the publication offers personal perspectives of our international arbitration partners from across the globe. Read more

SIAC issues proposal for consolidation of arbitral proceedings between institutions

On 19 December 2017, the Singapore International Arbitration Centre (SIAC) released a proposal on cross-institution cooperation and consolidation of arbitral proceedings conducted under different arbitral rules (the SIAC Proposal). SIAC has invited comments on its Proposal by 31 January 2018. The memorandum enclosing the SIAC Proposal can be accessed here. Read more

SIAC Investment Arbitration Rules

The Singapore International Arbitration Centre (SIAC) has announced the release of its Investment Arbitration Rules (the Rules), which came into force on 1 January 2017.  This release follows the earlier public consultation in February 2016, when practitioners were invited by SIAC to review and comment on the draft of the Rules. The Rules are the … Read more

Singapore arbitration update: Third Party Funding and New SIAC Rules 2016

This week has seen two major developments in Singapore arbitration. First, Singapore's Ministry of Law has published draft legislation to legalise and regulate third party funding for arbitration (and arbitration-related litigation and mediation) in Singapore. Second, the Singapore International Arbitration Centre (SIAC) confirmed the release of the sixth edition of its Rules: the SIAC Rules … Read more