SIAC introduces significant rule changes
The Singapore International Arbitration Centre (SIAC) has recently introduced significant changes to its rules, reflecting a major organisational and governance change with the launch of the new SIAC Court of Arbitration. The SIAC has also introduced updated rules for the conduct of arbitration.
The new SIAC rules came into effect on 1 April 2013 and establish a new SIAC Court of Arbitration that will oversee the arbitral appointment and case administration functions of the SIAC. The court is led by its president, Dr Michael Pryles, and is made up of leading international arbitration practitioners. The corporate and business development functions of the centre will continue to be overseen by the board of directors. The arbitration functions carried out by the SIAC court have been separated from the corporate and business development functions — a major structural change made largely in response to the SIAC’s rapidly growing caseload.
The new rules give effect to the new governance structure by providing that the SIAC court president will take over arbitral functions formerly performed by the chairman of the SIAC. The president will now appoint arbitrators (Rule 6) and determine applications for expedited procedure (Rule 5) and for appointment of emergency arbitrators (Schedule 1). The SIAC court will also take over the role of the SIAC board’s committee in determining challenges to arbitrators (Rule 13) and jurisdictional challenges (Rule 25.1)…
If you are registered and logged in to the site, click on the link below to read the DLA Piper briefing. If not, please register or sign in with your details below.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
Philippines president Benigno Aquino III has signed into law Republic Act 10641, ‘An Act Allowing the Full Entry of Foreign Banks in the Philippines’.
As you structure the features of developer notes, the following principles may help you maximise their marketability.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions