Public consultation underway for new P.R.I.M.E. Finance Arbitration Rules

27 January, 2021
P.R.I.M.E. Finance provides a specialist platform to resolve complex banking and financial disputes.  Since its inception in 2012, the organisation has been committed to providing users with a market-leading dispute resolution experience.  Following the cooperation between P.R.I.M.E. Finance and the Permanent Court of Arbitration (PCA) in December 2015, cases commenced under the P.R.I.M.E. Finance Arbitration … Read more

SINGAPORE COURT OF APPEAL INTRODUCES A LOWER STANDARD OF REVIEW FOR DEBTORS DEFENDING A DISPUTED DEBT THAT IS SUBJECT TO AN ARBITRATION AGREEMENT

21 April, 2020
In AnAn Group (Singapore) Pte Ltd v VTB Bank (Public Joint Stock Company) [2020] SGCA 33, Justice Steven Chong, delivering the judgment of the Court, (1) overturned the decision of the High Court which allowed a creditor (VTB Bank) to proceed with its winding up petition against a debtor (AnAn), and (2) upheld the arbitration … Read more

DISPUTE RESOLUTION CHOICES FOR BANKS AND FINANCIAL INSTITUTIONS IN A POST-BREXIT WORLD: OPTING FOR ARBITRATION?

30 October, 2019
Partner Andrew Cannon and Senior Associate Hannah Ambrose have authored an article for Butterworths Journal of International Banking and Financial Law, discussing the suitability of arbitration as a dispute resolution mechanism for banks and other financial institutions post-Brexit. The article explores the current uncertainty surrounding the enforcement of English court judgments post-Brexit, whilst comparing and … Read more

The discontinuation of LIBOR and arbitration: issues of substance and procedure for parties and arbitrators

15 February, 2019
The global financial markets are currently preparing for the phasing out of the London Inter-bank Offered Rate (or LIBOR) and other Inter-bank Offered Rates (or IBORs). LIBOR is the most widely used benchmark interest rate globally, employed in an estimated US$350 trillion worth of financial contracts worldwide. LIBOR may also be used in commercial contracts … Read more

The future of financial services arbitration

01 October, 2013
Recent years have seen rapid growth in the use of arbitration as a means of resolving disputes in the financial services sector, an area where English or New York court jurisdiction has traditionally been favoured by market participants.  This trend has been driven by the perceived advantages of arbitration, notably the superior enforcement mechanisms for … Read more

Equator Principles III released

24 May, 2013
The Equator Principles Association (EPA) has released the third version of the Equator Principles (EPs) for managing environmental and social risks in financing projects. They are largely the same as the draft EPs released for public consultation in August 2012 (see our e-bulletin here which discusses the draft in detail), but there have been some … Read more