International Arbitration in Project Finance Transactions
Mr. Prakash Pillai, partner at Clyde & Co Clasis Singapore Pte. Ltd., began by introducing the audience to the concept, parties involved, and typical structure of project finance transactions. He then identified the benefits of arbitration as a dispute resolution method in project finance transactions given the complex nature of such transactions, namely, the presence of multiple contracts, governing laws, jurisdiction, and parties. He also compared the ICC, SIAC, and the London Court of International Arbitration (LCIA) rules during consolidation of proceedings and joinder of parties before giving solutions in the absence of formal institutional rules for consolidation or joinder.