SINGAPORE HIGH COURT REFUSES TO ENFORCE A FOREIGN ARBITRAL AWARD FOR BREACH OF THE RULES OF NATURAL JUSTICE – CVG v CVH [2022] SGHC 249
Part 3 of the International Arbitration Act 1994 (2020 Edition) (“IAA”) deals with foreign arbitral awards and Section 31 of the IAA sets out the limited circumstances under which a foreign award may be refused enforcement by the Singapore courts.
THE “EXCLUSIVITY OF PURPOSE” REQUIREMENT IN A QUISTCLOSE TRUST – WEI HO-HUNG V LYU JUN [2022] 2 SLR 1066
It is well-established that for a Quistclose trust to arise, the plaintiff must prove that the monies were transferred to the transferee to be applied exclusively to an agreed purpose which subsequently failed.
Commentary: Court Of Appeal Strikes Down “Clever Drafting” Designed To Circumvent The Penalty Doctrine: A Case Of Too Clever By Half?
In 2020, the Court of Appeal (the “CA”) reiterated that the penalty doctrine is restricted in its application to secondary obligations; primary obligations are insulated from the doctrine: Leiman, Ricardo and another v Noble Resources Ltd and another [2020] 2 SLR 386. It described this restriction as the “threshold issue.” The rationale for this differential …