International arbitration to grow but challenges ahead
Law Ministry does not expect high caseloads during pandemic to be permanent trend
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The Law Ministry is upbeat about continued growth based on arbitration's increasing popularity as a preferred method of resolving cross-border disputes.
PHOTO: MAXWELL CHAMBERS
Earlier this month, the Londonbased Judicial Committee of the Privy Council (JCPC) backed a US$150 million (S$201 million) decision by an arbitrator in a dispute filed with the Singapore International Arbitration Centre (SIAC) in 2015.
In doing so, the JCPC overruled the Mauritius Supreme Court, which had set aside the arbitrator's decision in the dispute about a breach of contract between Mauritian company Betamax Ltd and the Mauritian government-linked State Trading Corporation (STC).
