Issue #25 : To Enforce or Not to Enforce?
Welcome to the 25th edition of Overheard in Asia!
Here are the 🌶 headlines:
China: Chinese software company fails in its USD 180 million legal malpractice lawsuit against DLA Piper
Ling Yah
P/S: Know of any interesting seminars happening? Drop us a note at editor@overheard.asia!
To Enforce or Not to Enforce?
The UK Court of Appeal just held that Nigeria is liable for a hefty USD 70 million arbitration award!
🍿 What Happened?
In 2010, Zhongsan Fucheng Industrial Investment Co Ltd, via its parent company, acquired development rights for a free trade zone in Ogun state, Nigeria.
In 2011, Zhongsan established a Nigerian entity to manage the project with the approval of the Ogun state government.
In July 2016, Zhongsan accused the state government of abruptly terminating its appointment and attempting to install a new manager for the free trade zone.
Thereafter, Zhongsan initiated an investment treaty arbitration against Nigeria under the China-Nigeria Bilateral Investment Treaty ("BIT").
🤔 Arbitration Award
The arbitral panel held that Nigeria had breached its BIT obligations. Zhongsan was awarded USD 70 million (“Arbitration Award”).
In January 2022, Zhongsan sought to enforce the Arbitration Award. Nigeria claimed state immunity.
The UK Court of Appeal has now dismissed Nigeria’s claim.
It’s A Showdown!
We’ve got an explosive showdown between a VC, Info Edge, and its Mumbai-based portfolio company, 4B Networks - a platform for real estate developers and brokers to communicate with each other and do business.
🍿 What Happened?
Back in February 2021, Info Edge invested in 4B Networks & later acquired a 57% majority stake in May 2022.
In June, Info Edge’s wholly-owned subsidiary, Allcheckdeals India Private Limited (“Allcheckdeals”), appointed Deloitte India to conduct a forensic audit on 4B Networks.
The audit was mandated because the startup had failed to provide information relating to inter alia its financial transactions and related party transactions. Such information was required under the shareholders’ agreement and 4B Networks’ articles of association.
🔥 Then It Escalated
Allcheckdeals has since filed a petition with the Delhi High Court to obtain interim measures of protection under Section 9 and Section 37 of the Arbitration and Conciliation Act.
Both parties jointly proposed to have former Delhi HC judge Justice Mukta Gupta to act as the sole arbitrator & are expected to appear before the arbitrator on 14 August.
Barristers in Malaysia - Wishful Thinking?
Last week, we attended an interesting seminar on whether it's wishful thinking to practise as barristers in Malaysia. Or whether it's closer to reality than we think!
The panel consisted of:
Gopal Sreenevasan (Endeavour Group Law Practice)
Gregory Das (Messrs Cyrus Das)
Main takeaways:
Malaysia started off with a fused profession mainly because we didn't have enough lawyers for a split profession. This is no longer an issue in today's legal industry.
Independent barristers can focus on their advocacy and scholarship (unlike solicitors in Malaysia who spend a lot of time dealing with client management and office admin). This in turn results in better arguments being made in court, which can help develop the Malaysian legal profession and rule of law in the long run.
As it stands, Malaysian lawyers can practice in a "barristers' chambers" that's set up under a Group Law Practice (GLP). However, the legislative framework only allows up to 5 law firms in one GLP, which limits the development of the barrister's model.
Spotlight: Pem Tshering (Managing Associate, Sidley Austin LLP)
⚒️ What do you do?
I am currently an independent practitioner, specialising in Public International Law and International Arbitration, and until very recently worked at Sidley Austin.
I do a mixture of international arbitration and international law in both the litigation and advisory aspect.
I also specialise in Public International Law, having previously worked at the Permanent Court of Arbitration and currently working as part of the team representing the African Union before the ITLOS on the historic first-ever advisory opinion proceedings concerning the climate change crisis and its effects on the marine environment.
🏆 What is your proudest achievement?
My proudest achievement would be being the first person from the Kingdom of Bhutan to read for, and be called to, the Bar of England and Wales, and being in the top 7% of the country when I was called to the Bar.
While I don’t usually like to brag about my academic achievements, I truly had a ball of a time during my Bar course year, being thoroughly challenged in subjects that were training us for life as a barrister and I placed 19th out of over 350 students at the school administering my BPTC course, and I think that is something that I was, and remain, very proud of.
⌛ There are now 25 hours in a day! How do you spend your extra hour?
Learning a language!
I love languages but I can’t find the time to diligently do it.
I want to become fluent in Korean so that I can watch K-dramas (historical ones) without any subtitles. I have long aspired to have a musical skill, and I am currently taking Guzheng lessons so that I will have one.
🚀 If you weren't a lawyer, what would you do?
I would be a diplomat, which is, I suppose, somewhat in line with what I’m doing with Public International Law. Or I’ll be a Historian - I love history, especially periods involving palaces and monarchs, but I’m not entirely sure what the work would actually entail!
😋 Your favourite food haunt
In Seoul, Korea, if you go to Dongdaemun, there are stalls along the road where these Ajummas (Korean older ladies) sell fishcakes and Tteokbbokki. That’s my favourite, especially as they make a spicy version called Busan Eomuk. It also opens till really late so it’s great for a late night snack.
Food Feature
Want a cozy and relaxing place to dine in Tagaytay, Philippines?
Check out Bag of Beans! The classic Filipino breakfast set is a must-try, which includes garlic rice, fried egg, and your choice of meat - longganisa or tocino. If you'd like something sweeter, try their pancakes and waffles.
Bag of Beans also boasts a beautiful garden setting, making it an ideal spot for a romantic breakfast or a relaxed brunch with friends and family.
Details: Facebook, Google Maps
Are you a student or young lawyer?
Want to get involved in helping to run Overheard? Meet senior practitioners? Do legal research with real world impact?
We're always looking for bright, young talent like yourself so if you're interested, give us a holler at editor@overheard.asia!
Special thanks to Overheard in Asia's sponsor:
David Grief was described as "the Law's Middleman" (Business Times, 2021). You can reach out to him at dg@davidgrief.com if you need help identifying the right lawyer, arbitrator or expert for your matters, or even if you just want to grab a drink 🍵🍺 with someone who has managed and mentored lawyers for almost 5️⃣0️⃣ years!