Peter Doraisamy and Josiah Fong recently acted for an Indian national in applying to set aside an SIAC Arbitration Award. The matter was heard in the Singapore International Commercial Court (“SICC”) before the learned Justice Sir Vivian Ramsey.
The Arbitration Award gave certain reliefs against our client, which made our client personally liable (in the sum of about S$ 22 million) for the alleged default of certain provisions under a share sale & purchase agreement and share subscription agreement, both of which were governed by Indian law.
The Application was premised on the grounds that the Award was liable to be set aside because (a) the Arbitral Tribunal did not have jurisdiction to determine the subject matter, (b) that the Tribunal had misdirected itself in breach of the rules of natural justice, and (c) that the Award was in breach of Singapore Public Policy as it required an act which was illegal under the laws of a foreign country, and therefore was in breach of the principle of International Comity.
Judgment has been reserved by the SICC.
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