International Arbitration Seminar in Indonesia
International Commercial Arbitration is a core practice area for Eugene Thuraisingam LLP.
2. Seminar on Damages in International Arbitration
Over the weekend, Eugene Thuraisingam, Chooi Jing Yen and Syazana Yahya attended the SIAC Academy Jakarta 2019 hosted by Assegaf Hamzah & Partners for an intensive two-day programme on Emergency Arbitration, Expedited Procedure and Early Dismissal. It was chaired by Mr Cavinder Bull, SC, Vice-President, SIAC Court of Arbitration and attended by several other leading international arbitration practitioners and arbitrators.
Kevin Nash, the Deputy Registrar & Centre Director of SIAC delivered the welcome address. This was followed by an opening address by Cavinder Bull SC, Vice-President of SIAC Court of Arbitration and CEO of Drew & Napier.
During the first panel discussion titled “Contemporary Damages Principles in International Arbitration”, topics that were brought forward were “Law applicable to damages: substantive or procedural issue?”, “Standard of proof for damages”, “Expectation model versus reliance model”, “Foreseeability of losses”, “Concepts of causation and remoteness of damage”, “Obligation to mitigate damages”, among others. The panelists for this discussion were: Ignatius Andy, partner of Ignatius Andy Law Offices, Simon Dunbar, partner of King & Spalding, Andi Kadir, Partner of HHP Law Firm, and Simon Barrie Sasmoyo, Senior Associate of Assegaf Hamzah & Partners.
During the second panel discussion titled “Quantifying Damages in Post-M & A Disputes”, the issues discussed by the panelists Oommen Mathew, managing partner of DWF LLP, Ian Potter of MDD Forensics Accountants, Ajinderpal Singh, senior partner of Dentons Rodyk & Davidson LLP and Kabir Singh, partner of Clifford Chance, were “Agreed minimum amounts, notice periods and warranty: how they impact the timing of a post M&A arbitration”, “Expert determination”, “Proof of damages: preservation of evidence and providing evidence”, “Tips for post M&A arbitrations”, and many more.
The final panel discussion titled “Assessment of Damages in Construction Disputes” put forth topics such as “Different damages calculation methods: total cost, modified total cost, direct or discrete pricing approach”, “Delay claims and disruption claims”, and more. The panelists were Tony Budidjaja, managing partner of Budidjaja International Lawyers, Rob Palmer, office managing partner of Ashurst LLP, and James Taylor, senior managing director of FTI Consulting.
This seminar has provided an avenue where legal and industry experts expounded on the principles and practices behind the assessment and quantification of damages in international arbitration.