Singapore – Singapore's High Court upheld a US$250 million arbitration award to Malaysian billionaire Ananda Krishnan’s Astro All Asia Networks against its former Indonesian business partner Lippo Group over a failed pay-TV venture. Astro had back in 2005 formed a joint venture with First Media and other affiliates of the Lippo Group to establish a pay-TV business in Indonesia. The joint venture was not concluded, and in 2008 Astro commenced arbitration proceedings in Singapore … [Read more...] about Court upholds Astro’s US$250m arbitration award from Lippo
Lippo
Astro v Lippo: Enforcement in Arbitration
The dispute between the Astro Group and the Lippo Group that was recently before the Singapore Courts highlights important lessons for parties with crossborder contracts and disputes as it demonstrates both the strengths as well as weakness of the enforcement regime in arbitration pursuant to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention”). It is important to understand that the substantive dispute between the parties … [Read more...] about Astro v Lippo: Enforcement in Arbitration
Lippo loses arbitration hearing against Astro All Asia Networks Plc
Indonesia - The Singapore International Arbitration Center (SIAC) has favored Astro All Asia Networks Plc in its preliminary ruling against PT Ayunda Prima Mitra (APM), a subsidiary of Indonesian property and media group Lippo. In its statement to the Malaysian Stock Exchange, Astro said it received the arbitration tribunal's award ruling in favour of Astro, rejecting APM's challenge as regards the tribunal's jurisdiction, and affirming that it had jurisdiction to hear and determine any dispute … [Read more...] about Lippo loses arbitration hearing against Astro All Asia Networks Plc
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