You are here: Blog Law

Law (3)

This category contains various reviews of law mainly in Asia Pacific countries, but nor necessarily limited to this region.

The British law was originally based on the principle that a company could not change its capital without a court approval, and this in order to protect its creditors. And as Lord Watson stated in the landmark case of Trevor v Whitworth: "One of the main objects contemplated by the legislature, in restricting the power of limited companies to reduce the amount of their capital as set forth in the memorandum, is to protect the interests of the outside public who may become their creditors."[1]. This was also confirmed by Buckley LJ in Re Horsley and Weight Ltd when he affirmed creditors should rely on the fact that the company will not proceed to share buy-back without being properly authorized.[2]

How did the European Court of Justice (ECJ) managed to put an end to the use of Anti-Suit Injunction, a key legal instrument used until recently in Europe, and what are the consequence on the competitivity of Business in Europe ?

I think it is clear that the globalization of the economy has pushed the countries to update their legislation and this was reflected in Common Law as well. The recognition in the U.S. of the globalization, and therefore the use of international arbitration was reflected in Mitsubishi Motors Corp. v. Soler-Chrysler, Plymouth, Inc.[1] This court case was based on the earlier The Bremen et al. v. Zapata Off-shore Co.[2] in which it was expressed that “expansion of American business and industry will hardly be encouraged if, notwithstanding solemn contracts, we insist on a parochial concept that all disputes must be resolved under our laws and in our courts.”[3]




Address: 50 Raffles Place – #06-00 Singapore Land Tower, Singapore 048623