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Disclaimer: This summary was generated by AI based on the content of the source document.
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Disclaimer: This summary was generated by AI based on the content of the source document.
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Disclaimer: This summary was generated by AI based on the content of the source document.
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<p>In the wake of the global Coronavirus disease 2019 (COVID-19) pandemic, a rise in creditorinitiated winding-up proceedings is likely to be impending in coming years (See e.g., RCMA Asia Pte. Ltd. v. Sun Electric Power Pte. Ltd. [2020] SGHC 205). At the same time, geopolitical developments, such as the scale and ambition of Belt & Road Initiative projects, have raised questions over the issue of debt sustainability. Given the prevalence of arbitration clauses in modern international commercial and project agreements, the interplay and relationship between insolvency and dispute resolution, and especially arbitration, requires careful attention. While the intersections between the arbitration and insolvency regimes are numerous and multi-faceted, (Jennifer Permesly et al. ‘IBA Toolkit on Insolvency and Arbitration’ International Bar Association (March 2021), www.ibanet.org/LPD/Dispute_Resolution_Section/ Arbitration/toolkit-arbitration-insolvency.aspx (accessed 18 April 2021) the impact of an arbitration clause on winding-up petitions has attracted recent case law. The English, Hong Kong, and Singapore courts have each taken differing approaches to the question of how to deal with winding-up petitions presented over disputed debts that are subject to an arbitration clause. On one end of the spectrum, the Hong Kong courts currently appear to prefer a relatively more creditor-friendly approach. On the other hand, the Singapore Court of Appeal recently laid down a relatively more debtor-friendly approach. Undertaking a comparative analysis of the approaches taken by different common law jurisdiction, this article argues that the Singapore Court of Appeal’s approach is preferable. However, at least for courts in United Nations Commission on International Trade Law (UNCITRAL) Model Law jurisdictions (or jurisdictions where the mandatory stay regime of the Model Law is adopted), they ought to find that a disputed debt subject to an arbitration clause falls within the scope of the mandatory stay regime under the Model Law. This article further suggests a possible way in which the approach of the Singapore Court of Appeal can be reconciled with the mandatory stay regime under Singapore’s enactment of the Model Law.<br></p>
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Nova Chemicals Corporation v Dow Chemicals Company 2020 FCA 141 Stratas JA: Near JA / Woods JJA dissenting, aff’g 2017 FC 350 , 2017 FC 6...
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Disclaimer: This summary was generated by AI based on the content of the source document.
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Disclaimer: This summary was generated by AI based on the content of the source document.
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"Account of Profits is a powerful weapon in the litigator's arsenal. Written by Peter Devonshire, a leading scholar on the subject, it is an important but underutilised remedy that can be granted in cases where defendants have profited from their wrongs. An account of profits is the principal remedy for breach of fiduciary duty and breach of obligations of confidence. The remedy is also available in respect of certain common law wrongs and has an important role in cases of intellectual property infringement. The book draws primarily from English and Australian case law as well as judgments of the New Zealand courts. It also includes the decisions of other Commonwealth jurisdictions and the views of leading academic commentators. The author provides a clear and comprehensive explanation of the legal principles regarding an account of profits. The remedy is assessed in context, enabling the reader to identify the key issues and apply the relevant concepts. The Hon Michael Kirby describes Account of Profits as "original, timely, practical and forward-looking" and "a book of great practical worth for lawyers in many countries where the common law and the law of equity still flourish". This is a leading text on this important and expanding area of law, Account of Profits is a valuable resource for students, practitioners, academics and judges"--Publisher
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