In the landmark decision of International Research Corp PLC v Lufthansa Systems Asia Pacific Pte Ltd and another  SGCA 55 [IRCP v Lufthansa] delivered on 18 October 2013, the Singapore Court of Appeal departed from the strict rule governing the incorporation of arbitration clauses from one contract into another.
Partner, Mr Subramanian Pillai and Associates, Ms Venetia Tan and Ms Melanie Tien from Colin Ng & Partners LLP represented the successful Appellant, International Research Corporation PLC of Thailand, before the Court of Appeal in this matter.
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On 4 October 2013, an Insolvency Law Review Committee (the "Committee") comprising of insolvency practitioners, academics and stakeholders issued a report setting out major recommendations to the insolvency regime in Singapore. The main proposal revolved around the enactment of a new Insolvency Act (the "New Insolvency Act"), one which seeks to consolidate and update key areas of Singapore's laws pertaining to personal bankruptcy and corporate insolvency as well as incorporating established common principles and procedures. [ More ]
The Employment Act ("EA"), the Child Development Co-Savings Act ("CDCSA"), the Central Provident Fund ("CPF") Act and other employment related law were amended recently following extensive review by employers, unions and the Government in early 2013. The majority of the amendments will take effect on 1 April 2014 and will affect a significant portion of companies and employees. [ More ]
The Singapore Ministry of Manpower ("MOM") introduced a new framework, known as the Fair Consideration Framework ("FCF"), which requires employers to consider Singaporeans fairly before hiring employment pass ("EP") holders. This new measure came amidst concerns of a rising foreign population in Singapore, with foreigners estimated to make up nearly half of Singapore's population by 2030.1 [Recognising that providing better jobs and diverse opportunities to meet Singaporean's aspirations are the ultimate objectives of Singapore's economic growth, Acting Minister for Manpower, Tan Chuan-Jin, explained that the FCF is aimed to encourage employers to give Singaporeans, especially graduates and professionals, managers and executives ("PMEs"), a fair chance at job and development opportunities. [ More ]
On 1 February 2014, amendments to the Monetary Authority of Singapore ("MAS") Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers (Notice No. FAA-N13) ("the Notice") will take effect and will increase the minimum academic entry requirements for representatives of financial advisers and exempt financial advisers. [ More ]
This is the second of a two-part series where we discuss several key points which prospective purchasers might wish to take note of when purchasing a residential property. You may recall that in Part One , the key points highlighted include the negotiating position of a purchaser prior to the grant of an Option to Purchase ("OTP"), the option exercise period, the completion date of the transaction, the two versions of the Law Society Conditions of Sale, and the inventory list attached to an OTP. [ More ]