Commercial Law Commons^™

Restitution [2016], Man Yip

Research Collection Yong Pung How School Of Law

No abstract provided.

Legal Barriers To Supply Chain Connectivity In Asean, Locknie Hsu

Research Collection Yong Pung How School Of Law

This is an Interim Report published pursuant to a Tier 1 research grant from SMU, examining legal barriers to doing business in ASEAN countries. The Interim Report presents research material and findings on such barriers and a number of actionable preliminary recommendations for policy-makers to consider and utilise. The main areas of barriers examined are corporate, trade, investment, land use, dispute settlement and legal information barriers encountered in the region. The Final Report is expected to be published in March 2018.

Cross Border Public Offering Of Securities In Fostering An Integrated Asean Securities Market: The Experiences Of Singapore, Malaysia And Thailand, Wai Yee Wan

Research Collection Yong Pung How School Of Law

In 2015, the Association of South-East Asian Nations (ASEAN) Economic Community was formally established and its aim was to achieve, among other things, an integrated securities market within ASEAN.

Before the formal establishment of the ASEAN Economic Community, in 2009, with a view towards achieving the objective of securities integration, Singapore, Malaysia and Thailand adopted the ASEAN Disclosure Standards, a set of harmonized disclosure standards for issuers making cross-border initial public offerings (IPOs). These participating Member States also entered into a framework for the expedited review for cross-listings. However, more than 5 years later, there is no documented use of …

Social Capital Of Directors And Corporate Governance: A Social Network Analysis, Zihan Niu, Christopher C. H. Chen

Research Collection Yong Pung How School Of Law

This Article examines how a director’s social capital might affect his or her behavior, the board’s performance, and corporate governance, as well as the potential normative implications of the director’s social network. We argue that the quality of board performance could be improved where the social network closure within the board is high and there are many non-redundant contacts beyond the board. Network closure can improve trust and collaboration within a board, while external contacts may benefit a company with more diverse sources of information. Moreover, different network positioning leads to the inequality of social capital for directors. With more …

Some Reflections On The Willem C Vis And Vis East International Commercial Arbitration Moots: Negotiating And Bridging The Civil-Common Divide, Siyuan Chen, Bethel Ruiyi Chan, Eden Yiling Li

Research Collection Yong Pung How School Of Law

This article draws from the co-authors’ personal experiences of competing in the Willem C. Vis and Vis East International Commercial Arbitration Moots and highlights the importance of awareness of diversity in legal traditions. The article focuses on points of divergence between the civil and common law jurisdictions in three main aspects: substantive law, procedural rules and advocacy techniques. Specifically, the article discusses the doctrine of good faith in the United Nations Convention on Contracts for the International Sale of Goods, the group of companies doctrine, and the concept of discovery and disclosure in the International Bar Association Rules on the …

From Apathy To Multi-Stakeholder Action For Our Biodiversity, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

SMU Associate Professor of Law Eugene Tan highlighted that the public consumption of sharks’ fin in Singapore has declined in recent years as a result of successful "say no to shark fin" campaigns. However, Singapore was the third largest importer of shark fin between 2005 and 2013. Shark conservation is not about sharks alone but about sustainability, oceanic health, and robust commercial fisheries. It's also about enlightened self-interest at its core. As a major food source, the oceans are critical to our food supply and security. As a maritime nation, commercial fisheries are important to us as well. Much more …

Convergence Between Australian Common Law And English Common Law: The Rule Against Penalties In The Age Of Freedom Of Contract, Man Yip, Yihan Goh

Research Collection Yong Pung How School Of Law

This note discusses the High Court of Australia decision of Paciocco v Australia and New Zealand Bank Group Limited on the rule against penalty clauses and situates its importance in light of the UK Supreme Court decision of Cavendish Square Holding BV v Talal El Makdessi and Beavis v ParkingEye Ltd.
It compares the analytical frameworks laid down in the two cases and
points out some unresolved issues in this area of law even following
these cases.

Understanding The Law Of Torts In China: A Political Economy Perspective, Wei Zhang

Research Collection Yong Pung How School Of Law

In this paper, I tried to connect the text of the Chinese tort law with the institutional context of lawmaking in China from a political economy perspective. Two determinants, political influence and populist pressure, were identified for the tort law legislation in China, and a simple spatial model was presented to demonstrate the mechanism through which these determinants might have affected the text of the law. In particular, my research suggested that, when injurers’ political influence kept constant, the populist pressure on the injurer group tended to push the tort law rules toward the pro-victim end. On the contrary, with …

Unauthorised Fiduciary Gains And The Constructive Trust, Alvin W. L. See

Research Collection Yong Pung How School Of Law

This article challenges the traditional assumption that all cases of unauthorised fiduciary gain warrant the same legal treatment, in particular the imposition of a constructive trust as a disgorgement remedy. It proposes a method of categorising the cases and ranking them based on the strength of the principal’s interest. It is suggested that in cases where the principal’s interest is not particularly strong, there is room for taking into account the interests of innocent third parties and affording them the necessary protection. For this purpose, the remedial constructive trust supplies the needed flexibility.

A Renewed Consideration Of Consideration: Mwb Business Exchange Centres Ltd V Rock Advertising Ltd [2016] Ewca Civ 553, Kenny Chng, Yihan Goh

Research Collection Yong Pung How School Of Law

This note argues thatthe English Court of Appeal decision of MWBBusiness Exchange Centres Ltd v Rock Advertising Ltd is a significantmodification of the present understanding of consideration with respect toagreements to accept part-payments of a debt and to perform pre-existing duties,and that the preferred way forward for the development of the law should be judicialintervention by the Supreme Court to reconcile the logical inconsistenciesbetween Foakes v Beer and Williams v Roffey Bros & Nicholls(Contractors) Ltd.

A Harmonized System Of International Commercial Arbitration Within The Aec And Beyond?, Locknie Hsu

Research Collection Yong Pung How School Of Law

No abstract provided.

Civil Conspiracy In The Corporate Context, Pey Woan Lee

Research Collection Yong Pung How School Of Law

This article examines the issues that arise when the tort ofconspiracy by unlawful means is used, as an alternative to veil-piercing,either to extend a company’s liability to its controllers, or to enable acontroller’s creditors to reach the assets of company under his or her control.It observes that the tort of conspiracy is a particularly potent mechanism forthese purposes because of its potentially broad reach. A liberal application ofconspiracy liability to companies and their insiders would therefore underminethe company’s separate legal status as well as the benefits of incorporation.For that reason, the application of the tort, and of private law principles …

Exploring A New Frontier In Singapore's Private International Law: Im Skaugen Se V Man Diesel & Turbo Se [2016] Sghcr 6, Wei Yao, Kenny Chng

Research Collection Yong Pung How School Of Law

The establishment of the Singapore International Commercial Court (“SICC”) marks a significant development in Singapore’s private international law. This note leverages on the Singapore High Court decision of IM Skaugen SE v MAN Diesel & Turbo SE [2016] SGHCR 6 to discuss two key issues raised by the SICC: the relationship between the Singapore High Court’s and the SICC’s jurisdictional rules, and the applicable test for the exercise of the SICC’s jurisdiction. This note argues that the possibility of a transfer to the SICC should influence the High Court’s exercise of its international jurisdiction, and that the SICC should not …

Restitution Of Non-Gratuitously Conferred Benefit In Malaysia: A Case For Sowing The Unjust Enrichment Seed, Alvin W. L. See

Research Collection Yong Pung How School Of Law

This article draws on the common law of unjust enrichment to rationalize and develop the right to recover a non-gratuitously conferred benefit set out in section 71 of Malaysia’s Contracts Act 1950. This attempt at legal transplant and modern restatement is made in the hope of injecting principle and clarity into the antique section with the eventual goal of reviving it for practical and modern use.

Restitution [2015], Man Yip

Research Collection Yong Pung How School Of Law

No abstract provided.

Restitution [2015], Man Yip

Research Collection Yong Pung How School Of Law

No abstract provided.

The Application Of The Morton Principles In Canada Steamship Lines Ltd V The King In Singapore Reconsidered, Wee Ling Loo

Research Collection Yong Pung How School Of Law

For the interpretation of clauses that purportto allow a contracting party, the proferens, to exclude or limit, or beindemnified against, liability that arises by reason of his or his agents’negligence, certain principles were laid down by the Privy Council in 1952 inCanada Steamship Lines Ltd v The King. Famously known as the ‘Mortonprinciples’ (named after Lord Morton who delivered the judgment of the PrivyCouncil) or the ‘Canada SS rules’ or guidelines, they prescribe a three-steptest to determine if these clauses effectively provide the protection sought bythe proferens. In Singapore, the Court of Appeal in Marina Centre Holdings PteLtd v Pars …

El Ineficiente Diseño De La Legislación Concursal Española: Una Propuesta De Reforma A Partir De La Experiencia Comparada Y De Un Análisis Económico Del Derecho Concursal [The Inefficient Design Of The Spanish Bankruptcy Act: A Proposal To Enhance The Attractiveness Of The Spanish Bankruptcy Regime Based On An Economic And Comparative Analysis Of Insolvency Law] In Spanish, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

Spain has one of the world´s lowest business bankruptcy rates (that is, number of business bankruptcies per firm). Some authors have argued that the low usage of bankruptcy procedures in Spain is due to a ‘cultural’ problem faced by Spanish entrepreneurs. According to this hypothesis, the lack of a ‘bankruptcy culture’ makes Spanish entrepreneurs to be afraid of the use of the bankruptcy system. In this paper, however, I advocate for a totally different hypothesis. In my opinion, the low rate of business bankruptcies in Spain is not due to a ‘cultural’ problem but to an institutional one. Namely, I …

Injunctive Relief: But Let’S Agree Not To Have It?, Kwan Ho Lau

Research Collection Yong Pung How School Of Law

Theability of parties contractually to limit their right to seek injunctive reliefhas not often been judicially discussed. An interesting case from Singapore nowappears to suggest that this is much more than a theoretical possibility. Somearguments can, however, be made to demonstrate that this is perhaps not thevista of opportunity over which some contract draughtsmen might rejoice, andcare should be taken to ascertain the boundaries of the law, as explained in thisnote.

Solving The Puzzle Of Corporate Governance Of State-Owned Enterprises: The Path Of Temasek Model In Singapore And Lessons For China, Christopher C. H. Chen

Research Collection Yong Pung How School Of Law

The purpose of this Article is to examine the corporate governance of state-owned enterprises (SOEs) in the Asian context by empirically surveying the influence of Temasek Holdings, Singapore’s sovereign wealth fund, on its portfolio of government-linked companies in Singapore. Overall, the Temasek model seems to be a promising one. This Article shows that the top listed government-linked companies in which Temasek has a stake have greater board independence than the other top listed companies in Singapore. This illustrates that a high quality of corporate governance could be aligned with public interests associated with SOEs. While this research offers hope for …

Modernising Company Law: The Singapore Experience, Pey Woan Lee, Christopher C. H. Chen

Research Collection Yong Pung How School Of Law

In October 2014, the Singapore Parliament passed the Companies (Amendment) Act 2014 (Singapore). Encompassing the most comprehensive revision of corporate legislation in the history of Singapore, this Act has been implemented in two phases. This article will consider the impetus for as well as the salient themes that guided this wide-ranging review in the period 2014-2016.

Rationalising Anticipatory Breach In Executed Contracts, Yihan Goh, Man Yip

Research Collection Yong Pung How School Of Law

Rationalising the doctrine of anticipatory breach is notoriously difficult. This may explain the complete lack of attempt by the UK Supreme Court to address its conceptual difficulties in its recent judgment in Bunge SA v Nidera BV [2015] UKSC 43; [2015] 3 All E.R. 1082. It is therefore of interest that the Singapore Court of Appeal in The “STX Mumbai” [2015] SGCA 35; [2015] 5 S.L.R. 1 explained why the doctrine of anticipatory breach can be applied to executed contracts (in the sense of being fully executed by the innocent party). Whilst anticipatory breach applies similarly under English law, the …

Corporate Reorganisation Of China’S Listed Companies: Winners And Losers, Zinian Zhang

Research Collection Yong Pung How School Of Law

This article is the first empirical study investigating the corporate reorganisation of Chinese domestically-listed companies. Through examining these cases, it challenges the assertion made by most of these corporate reorganisation plans and by Chinese state-run media reports that creditors and general public shareholders were the major beneficiaries. Through an analysis of the data generated from all forth-three such cases, this articles reveals that: First, unsecured creditors could have, on average, received 61.37% more of their claims if the fundamental value distribution principle, the absolute priority norm, could have been complied with in these reorganisations; Second, if the general-public-shareholder-protection scheme issued …

The Illegality Defence In Corporate Law Claims Against Directors And Officers, Wai Yee Wan

Research Collection Yong Pung How School Of Law

If a company incurs substantial fines or other pecuniary losses as a result of its unlawful conduct, can the company obtain an indemnity from its director/officer for having caused the company to incur such fines and losses? In particular, can the director/officer utilise the defence of illegality, notwithstanding that he has breached his duties owed to the company? The illegality defence, which raises the twin issues of the relationship between the unlawful act to the corporate claim and the attribution of the unlawful act to the company, has been the subject of detailed analysis recently in England, Singapore and Hong …

Corporate Reorganisation Of China's Listed Companies: Winners And Losers, Zinian Zhang

Research Collection Yong Pung How School Of Law

This article is the first empirical study investigating the corporate reorganisation of Chinese domestically-listed companies. Through examining these cases, it challenges the assertion made by most of these corporate reorganisation plans and by Chinese state-run media reports that creditors and general public shareholders were the major beneficiaries. Through an analysis of the data generated from all forth-three such cases, this articles reveals that: First, unsecured creditors could have, on average, received 61.37% more of their claims if the fundamental value distribution principle, the absolute priority norm, could have been complied with in these reorganisations; Second, if the general-public-shareholder-protection scheme issued …

Unpacking The Compensatory Principle: Causation, Mitigation, Certainty Of Loss And Remoteness: The Mtm Hong Kong, Yihan Goh, Man Yip

Research Collection Yong Pung How School Of Law

The High Court decision of Louis Dreyfus Commodities Suisse SA v MT Maritime Management BV (The MTM Hong Kong) affirms that the compensatory principle mandates the assessment of actual loss resulting from the breach of a charterparty. Owing to the unexpected delay in obtaining a substitute charter after the original charterers had repudiated the charterparty. The MTM Hong Kong raised a previously unconsidered issue: is the court allowed to take into account the vessel owners’ losses occurring after the date that the charter voyage would have been completed? Under the Smith v McGuire measure of compensation, an owner is conventionally …

Lawrence V Fen Tigers: Controversies And Clarifications In The Law Of Nuisance, Kee Yang Low

Research Collection Yong Pung How School Of Law

The law of nuisance is an area which is fraught with difficulties. In Lawrence v Fen Tigers [2014] 2 WLR 433, the UK Supreme Court dealt with several of these issues, in particular the relevance of planning permission and when damages should be granted in lieu of an injunction. This comment examines the decision and its implications.

Amendments To The Companies Act – Audit Exemption For Small Companies, Pey Woan Lee

Research Collection Yong Pung How School Of Law

The first phase of legislative amendments introduced by the Companies (Amendment) Act 2014 took effect on 1 July 2015. Of these amendments, the most significant is arguably the introduction of the “small company”, which replaces the exempt private company for purposes of audit exemption. This article considers the features of this new regime and illustrates its application to existing as well as new companies.

Restitution [2014], Man Yip

Research Collection Yong Pung How School Of Law

No abstract provided.

The Oppression Remedy: Clarifications On Boundaries, Pearlie M. C. Koh

Research Collection Yong Pung How School Of Law

The impetus behind the introduction of the statutory provision was the perceived need to protect the vulnerable minority shareholder against the unfair manipulation of the majority rule. Its raison d’être is clearly personal. And, as it is an important tool in the minority shareholder's arsenal, it is necessary that the scope of its application be sufficiently wide. The provision is therefore couched in expansive terms. This has led to questions being raised as to the scope of its application. Specifically, can a shareholder attempt to vindicate corporate claims through the provision? This short paper considers this issue against the background …