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Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Global | Publication | May 2024
On 3rd May 2024, the Hong Kong International Arbitration Centre (HKIAC) introduced new arbitration rules that would come into force on 1 June 2024. The 2018 Administered Arbitration Rules of the HKIAC (the 2018 Rules) have been well-received by users and are widely recognised as a market-leading set of arbitral rules since their release. The 2024 Administered Arbitration Rules of the HKIAC (the 2024 Rules) is a refinement of the 2018 Rules but with key changes to reflect advancing social norms of diversity, environmental and technological developments. They also introduce new powers and clarify existing powers of tribunals and the HKIAC.
Here is a summary of some notable changes under the 2024 Rules and its implications on commercial parties who are or may be involved in arbitral proceedings.
The 2024 Rules are a welcome refinement of the 2018 Rules and reflects the HKIAC’s keen awareness of topical issues such as diversity in the appointment of arbitrators, information security and environmental impact of international arbitrations. Some amendments in the 2024 Rules provide welcome confirmation of the tribunal’s wide-ranging powers in deciding on the arbitral process such as the ability to decide on preliminary issues in the arbitration to increase efficiency in the arbitration proceedings. It is worth highlighting that in declining to include scrutiny of the awards (unlike other arbitral institutions such as the ICC or the SIAC), the HKIAC has, like the LCIA, deliberately retained its “light touch” administration-style in the conduct of arbitral proceedings.
This article is not intended to be an exhaustive review of the changes under the 2024 Rules and should only be used as a guidance. For a thorough review on the 2024 Rules and analysis on how the 2024 Rules may impact your potential and/or existing involvement in a HKIAC-administered arbitral proceeding, please reach out to your usual NRF contact.
Publication
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Publication
The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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