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International arbitration report
In this edition, we focused on the Shanghai International Economic and Trade Arbitration Commission’s (SHIAC) new arbitration rules, which take effect January 1, 2024.
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ECJ confirms public tenders’ restrictions for companies from third countries with no procurement agreement with the EU
EU Member States may allow companies from countries that have not concluded an agreement guaranteeing equal and reciprocal access to public procurement (public procurement agreement) with the EU to participate in public tenders, provided there is no EU act excluding the relevant country.
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Has the Budget finally levelled the playing field for UK Islamic finance?
Cricket players will tell you that whether a pitch is easy to bat on is not dictated by how much the balls bounce or turn, but rather, whether they do so consistently.
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Ireland
On 31 October 2023, the Screening of Third Country Transactions Act 2023 (the “Act”), which establishes a new foreign direct investment ("FDI") screening regime in Ireland, was enacted.
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Singapore High Court finds award issued in breach of natural justice and clarifies when remission of award justified
In Vietnam Oil and Gas Group v Joint Stock Company (Power Machines – ZTL, LMZ, Electrolisa Energomachexport) [2024] SHGH 2024, the Singapore High Court made the rare finding that an arbitral award was issued in breach of natural justice.
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Singapore High Court rejects challenge to unclear award
In Swire Shipping Pte Ltd v Ace Exim Pte Ltd [2024] SGHC 211, the Singapore High Court rejected an application to set aside an arbitration award said to be so "manifestly incoherent" that it demonstrated the parties had not received a fair hearing.
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