Issue #43: Nuclear’s Back, Baby!
Welcome to the 43rd edition of OIA!
Here are the latest 🌶 headlines in APAC:
China: FibroGen, Andao Pharmaceutical and King Pharmaceuticals settle their trade secrets dispute
Philippines: The Philippine Court of Tax Appeals grants Wipro Philippines Inc.'s appeal of alleged tax payment deficiencies
Ling Yah
P/S: Know of any interesting seminars happening? Drop us a note at editor@overheard.asia!
Playing with Water
Is the Peruvian government playing with fire?
🍿 Background
The Chancay mega-port is a $1.3 billion investment located 70km south of Peru’s capital, Lima. It is meant to serve as a critical maritime link between South America and Asia, reducing transit time from South America to Shanghai from 45 to 30 days.
The port was meant to be functional around end of 2024.
Then Peru’s port authority threw a spanner into the works.
👀 Now What?
In March, Peru’s port authority said that ‘administrative error’ had given Chinese state-backed company, Cosco Shipping, exclusivity at Chancay mega-port. The port authority asked a judge to annul the decision.
Cosco, understandably, was not pleased!
And sent a letter to Peru’s economy ministry earlier this month to initiate a 6-month negotiation process without having to resort to international arbitration.
Do you think a settlement will likely emerge?
$101 Million Win
Let’s talk about the recent arbitration between:
Seatrium: An offshore and marine giant; and
MH Wirth: A wholly owned subsidiary of US drilling services provider HMH Holding.
🍿Background
Seatrium and MH Wirth entered into four separate contracts for the supply of drilling rig units in 2012 (“Contracts”). Jurong Shipyard, a subsidiary of Seatrium, terminated these contracts in 2021 and 2022 after having been suspended for many years.
Although the Contracts are held by MH Wirth, Akastor holds full financial interest in these Contracts as this was not included in the transaction when HMH was created in 2021.
MH Wirth contended that Jurong Shipyard was in breach of the Contracts and arbitration commenced in 2021 (“Arbitration”).
👀 Now What?
On 18 April, Seatrium announced that the Arbitration had concluded last July.
The SIAC award in favour of MH Wirth comprised of $101 million in vendor termination fees, and $7 million for ancillary, and legal and arbitration proceeding fees.
Nuclear is Back?!
A number of climate-related lawsuits are going through Japanese courts.
One of them concerns a petition to close down Japan’s only 2 operating nuclear reactors (“Petition”).
🍿 Background
Since the Fukushima disaster, there has been a gradual shutdown of all of Japan’s nuclear reactors until none were left operating in May 2012.
However, this left Japan with a soaring fuel bill, leading to a government decision to restart the Ohi reactors at two Kansai Electric Power plants in Fukui Prefecture.
This sparked the biggest demonstrations in decades.
Anti-nuclear advocates launched the Petition as seismologists suspected that part of the Kansai Electric Power Station sat above an active fault line, which would be against Japanese law on nuclear siting.
👀 The Ruling
The Fukui District Court has just rejected the Petition, making it Japan’s first legal ruling on atomic power since Fukushima disaster a little over 2 years ago.
Spotlight: Tan Swee Im
What is your current role?
My current role is as an independent neutral, mainly sitting on Arbitral Tribunals as sole arbitrator or on panels of three. I also undertake appointments to Dispute Boards which I find very interesting and constructive.
In addition, I sit as adjudicator on statutory adjudications. I am currently working on several arbitrations in the energy and infrastructure sector which projects range from petrochemical plants to highways. Also, on arbitral and Dispute Board appointments in aviation related projects, which is one of my favourite sectors.
I regularly speak at and moderate panels in seminars and conferences, as well as being active on diversity initiatives including the ERA Pledge.
What is your proudest achievement?
Being a part of nation building in Malaysia, with significant involvement in key infrastructure projects including KL International Airport, Malaysia-Singapore Second Crossing, Kuala Lumpur City Centre, Tun Razak Exchange. This nation building also includes being a part of the growth of the arbitration and ADR movement with the encouragement of the next generation of ADR practitioners.
If you had 25 hours in a day, what would you do with the extra hour?
Listening to music with my husband.
If you weren't a lawyer, what would you be?
I would probably be doing something in the travel business space. Travelling has been a great love since my childhood, with parents who instilled and enabled that sense of curiosity of other lands and peoples. I have spent, and still do, countless hours planning my travels and researching places to stay and things to do.
Your favourite food haunt is...?
Where do I start! There are so many! But I guess my go-to in Kuala Lumpur would be the corner coffee shop at Jalan Batai for noodles, where I have been going to for my kway teow fix.
The original stall owners were intending to retire which caused a panic attack, but their son has since taken on the mantle and all is well with both generations actively involved, and my fix safe.
A favourite in the US is 240 Union in Denver, Colorado, where the pistachio crust pork chop and the brussel sprouts are fabulous.
Food Feature
If you're ever in Kuala Lumpur and have a craving for some Japanese food near the city centre, then try Ishin Japanese Dining. The sashimi is especially fresh but it offers plenty of other classic Japanese dishes to choose from if that's more up your alley.
It is just down the road from Midvalley Mall and even comes with a free concierge parking service, which makes transport a breeze!
Address: Google Map, Website
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!