Herbert Smith Freehills has secured an important victory in Hong Kong proceedings with far-reaching consequences for arbitration disputes around the world. Many commercial contracts contain “escalation clauses” requiring parties to take certain steps before formal arbitration begins – such as a requirement to “negotiate in good faith” before starting arbitration. Previously, failure to comply with … Read more

In the recent case of Luk Wing Yan v CMB Wing Lung Bank Ltd [2021] HKCFI 279, the Hong Kong Court of First Instance (the “Court”) found that the defendant bank (the “Bank”) was not liable for losses caused to an investor arising out of investments offered by an employee of the Bank which turned … Read more

The Malaysian Federal Court has given new guidance on when the separate personality of a company, or the “corporate veil”, can be disregarded or pierced to fix liability on its shareholders or controllers. Previously, Malaysian courts would only pierce the corporate veil where a company was used to commit actual or equitable fraud. The Malaysian … Read more

The English High Court has dismissed an application for an injunction to prevent an airline group from making demands under bank-confirmed standby letters of credit (SBLCs), securing aircraft leases granted to the claimant (a budget passenger airline), on the basis that it was not sufficiently arguable that the leases were frustrated due to the effects … Read more

The decision of the Singapore Court of Appeal on 15 December 2020 in Denka Advantech Pte Ltd & another v Seraya Energy Pte Ltd & another [2020] SGCA 119, has affirmed that, under Singapore law, the rule against penalties remains as stated by Lord Dunedin in Dunlop Pneumatic Tyre Company, Ltd v New Garage and … Read more

Disruption, downturn and recovery tend to generate more disputes – and in Asia Pacific cross-jurisdiction operations and investments increase that risk. Our 2021 Guide to Dispute Resolution in Asia Pacific is your roadmap to potential problems in these fast-changing times, especially for those new to the region’s complex legal landscape. From the basics of each … Read more

Given the current restrictions on social interaction put in place to combat the spread of COVID-19, working from home is becoming the new normal. As a result, it is not always easy to sign paper copies of documents while working from home, and businesses across the world are exploring the increased use of e-signatures. This … Read more

On 7 April 2020, the Singapore Parliament passed the COVID-19 (Temporary Measures) Bill (the COVID Act), which, amongst others, offers temporary reprieve to qualifying parties or qualifying contracts: found here. The COVID Act is a bold move by the Singapore government to pre-emptively manage the foreseeable increase in legal proceedings for enforcement of contractual rights. … Read more