Lawlines Vol 10 Issue 1 - eOASIS - Rajah & Tann LLP

Vol 10 Issue 1 June 2008 • Rajah & Tann LLP’s Bi-Annual Journal on articles of current interest, features, and legal developmentsIN THIS ISSUE:A Round-Up Of LatestDevelopments In TheFirst Half Of 2008Rajah & Tann LLP Hosts9 th Lunchtime SeminarSeriesTax, Private Wealth &Trusts PracticeCourt Of Appeal DeliversJudgment On The LTA-Komoco Motors DisputeInsider Trading And TheVexed QuestionOf General AvailabilityCourts And Arbitration -A Question Of Balance?Recent Developments InSingapore LawDisclosure OfConfidential InformationBy ProfessionalIn The Pursuit Of ItsLegitimate InterestsPublic PrivatePartnership Projects– The ProcessOpen Source In ITContractsCourts And Arbitration - A Question Of Balance?Recent Developments In Singapore LawParties to international contracts do not relish suing or being sued in a foreign country. Differencesin the law, language, and legal and business culture could present decisive disadvantages. To them,arbitration has the advantages of a relatively inexpensive, speedy and more private alternativedispute resolution process in a neutral locale, with proceedings conducted according to familiarand well established arbitration law. Arbitration also offers disputing parties the opportunity toselect the arbitrators, who being experts in the field, will be able to swiftly understand the issuesin an arbitration.These benefits have led more foreign companies in Asia to include arbitration clauses in theircontracts. As such, arbitration now has a greater level of acceptance and greater enforceabilityacross the Asian region than ever before. Not surprisingly, there has been an increase in thenumber of Asian arbitration centres and in the adoption of up to date arbitration laws by Asiancountries.While arbitration is the preferred mode of dispute resolution, the precise role of the courtsin arbitration matters is important. The courts must strike an appropriate balance betweencompeting and complementary factors for and against judicial intervention. The relevant corevalues of arbitration include party autonomy, finality, fairness and justice and enforceability. TheSingapore court’s answer to balancing these competing interests is to adopt a policy of minimalintervention. In Soh Beng Tee v Fairmount Development Pte Ltd [2007] 3 SLR 86, (‘Soh Beng47 /77