Issue #44: Is Press Freedom Back?!
Welcome to the 44th edition of OIA!
Here are the latest 🌶 headlines in APAC:
China: Nicki Minaj faces lawsuit by a former concert promoter over unfulfilled China concert deal
Hong Kong: The HKIAC updates its arbitration rules for the first time in 6 years
Hong Kong: Hong Kong-based Silver basis files for bankruptcy of Moskvich with the Moscow Arbitration Court
Japan: Japan's Sharp Corp files a patent infringement lawsuit against US TV brand Vizio Inc and two others
Singapore: Two men convicted in Singapore's $3 billion money laundering case were deported to Cambodia
South Korea: The Korean Supreme Court overturns PIPC sanctions against e-commerce platform operators
Ling Yah
P/S: Know of any interesting seminars happening? Drop us a note at editor@overheard.asia!
Tik Tok fights back!
On 7 May, TikTok and its parent company ByteDance filed a federal lawsuit against the U.S. government, challenging a new law that forces ByteDance to sell TikTok or face a ban. The lawsuit claims the law violates the First Amendment by unfairly targeting a single platform to a permanent, nationwide ban.
🍿What Happened
On 24 April, President Biden signed the Protecting Americans’ Data From Foreign Adversaries Act.
The Act, passed with bipartisan support, requires ByteDance to divest from TikTok within nine months, or have TikTok be banned in the U.S, on the basis that TikTok poses a national security threat, potentially allowing the Chinese government to spy on Americans.
TikTok's lawsuit argues that the ban was unconstitutional as it violates Americans’ First Amendment rights to free speech given that the ban would effectively silence its 170 million U.S. users.
👀 Why should we care?
Has anyone not heard of this politically-charged case by now?! The outcome, whatever it may be, will be huge and likely set a precedent for regulating foreign-owned tech companies.
Time to bring the popcorn out.
The Credit Suisse-UBS Merger
Here is a case that could set important precedents for international investment law:
🍿 What Happened?
In 2023, the Swiss government backed the merger of Credit Suisse and UBS, leading to the wipeout of $17 billion in Credit Suisse AT1 bonds. Swiss regulators argued these bonds could be written off in a 'viability event’, in particular with the provision of government support.
The Hong Kong AT1 bondholders claim Switzerland breached its obligations under its bilateral investment treaty with Hong Kong during the Credit Suisse-UBS merger and unfairly favoured equity shareholders over bondholders.
👀 15 June
Hong Kong AT1 bondholders are preparing an international arbitration against the Swiss government and are currently signing eligible bondholders up to its group action, with a sign-up deadline of June 15, 2024.
Stay tuned for more updates!
Is Press Freedom Back?!
Has press freedom seen the light in India?
🍿Background
Last year, Prabir Purkayastha, the editor of NewsClick, was arrested under the stringent Unlawful Activities Prevention Act (UAPA) and charged with receiving foreign money and criminal conspiracy.
The Enforcement Directorate (“ED”), India’s financial crimes watchdog, accused him of taking funds from US millionaire Neville Roy Singham to push Chinese government talking points. This was thanks to a New York Times exposé alleging that NewsClick was funded by a network pushing Chinese propaganda.
👀 What Just Happened?
India’s Supreme Court found that the ED hadn’t bother to give Prabir written reasons for his arrest.
Justices B.R. Gavai and Sandeep Mehta called the arrest "invalid in the eyes of law" and ordered his release on bail. They made it clear this wasn't a comment on the actual case against him—just that his arrest was a bit of a mess.
Can this bail decision be considered a mini win for press freedom in India?
Journalists have certainly been feeling the squeeze since Prime Minister Modi took office in 2014. And media outlets like NewsClick, known for its bold and independent reporting, have faced plenty raids and scrutiny in recent times.
Looks like only time will tell.
Spotlight: Sinyee Ong
What is your current role?
I specialise in international arbitration (with a focus on construction and policyholder insurance disputes).
Currently, I am working on a huge business interruption claim arising out of the COVID-19 pandemic. The claimant is a hotelier operating in the APAC region. During the pandemic, governments across the world closed off or denied access to hotels. As a result, hoteliers globally suffered huge business interruption losses. Our client suffered losses across a dozen properties in the APAC region, with the aggregate amount of losses quantified in the region of USD 50 million.
What is particularly significant about this case is that it may potentially be the first (and biggest) case that will be decided by an arbitral tribunal in the APAC region, potentially setting off a ripple effect for other hotelier policyholders in the region.
What is your proudest achievement?
Securing my first arbitration instruction.
This may seem insignificant because don’t lawyers secure instructions all the time? However, for a boutique law firm like ours operating on a chambers-style eat-what-you-kill model, our ability to secure instructions depend very much on our own individual reputation.
As a young(-ish?) practitioner, it was particularly significant for me to acquire the trust of a MNC client to advise and assist them with a major SIAC arbitration. I still remember the immense sense of pride on the day our engagement letter was signed; and I will probably remember it for the rest of my career!
If you had 25 hours in a day, what would you do with the extra hour?
The driving range. Duh! In my (dreams?), I believe that one day, I can beat the men and win the longest drive prize at one of these charity golf tournaments. I am currently driving 180m and I believe 250m is achievable. With that distance, it is definitely possible to outdrive the men (from the red tees)! Just wait!
If you weren't a lawyer, what would you be?
Touring on the LPGA circuit. I sometimes lie in bed thinking that had I started golf as a toddler, I would be on tour now playing alongside the likes of Lydia Ko and Celine Boutier! And representing SG in golf for the Olympics!
Your favourite food haunt is...?
I am a big believer of home-cooked food. If I really have to pick something, it will probably be the ngoh hiang (五香) stall at the corner of Siang Kuang Avenue and Tai Thong Crescent. Growing up, we used to have it fairly regularly. These days, I save it as a treat to myself when I can afford the calories…
Food Feature
Bánh Mì Huynh Hoa is a must-try food destination in Ho Chi Minh City for locals and tourists alike.
Located in the bustling District 1, this small and unassuming shop is famous for its mouth-watering Vietnamese sandwiches.
The sandwiches are made with fresh French baguettes that are crispy on the outside and soft on the inside. The fillings are generous and include a variety of meats, such as pork belly, pate, and grilled pork. The sandwiches are then topped with fresh herbs, pickled vegetables, and a spicy chili sauce that gives it a kick.
The result is a perfect balance of sweet, sour, and savory flavors that will leave you craving for more!
Address: Google Maps Facebook
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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!