Lao-based ST Group won a case against Macau’s Sanum Investments’ attempt to enforce a US$200 million arbitral award after the Singapore Court of Appeal (SCA) refused to enforce the award because the seat of arbitration was incorrectly decided to be in Singapore.
The judgment came in the long-running dispute between Sanum Investments of Macau and the ST Group over agreements to invest in the gaming industry in Laos.
In the judgment, the SCA held that the tribunal’s decision to seat the arbitration in Singapore instead of Macau as agreed in the master agreement between the parties was wrong, and, “any award that ensues should not be recognized and enforced by other jurisdictions” because it was “not the result of the arbitration that the parties had bargained for”.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
