Mr. Chambers Yang has recently received the Final Award from Hong Kong International Arbitration Centre (HKIAC), which supported all claims filed by the applicant represented by Mr. Yang.
In year 2008, a Singapore polysilicon company (the applicant) reached a Sales Contract with a Korean polysilicon company (the respondent) to purchase product from the Korean company. The Singapore company had prepaid all purchase amount in accordance with the Sales Contract, while the Korean company failed to perform all of its obligations under the Sales Contract. Through both parties’ consultation, it is agreed that the Korean company shall provide the Singapore company for another type of products instead of the original one. However, the Korean company still failed to fully perform its obligations under the supplementary agreement. Both parties signed another Payment Refund Agreement. However, the Korean company still failed to perform its obligations. Upon several notices being sent without any reply, the Singapore company decided to engage Haworth & Lexon as its attorney to file arbitration against the Korean company.
According to the clauses stipulated in the Sales Contract, Mr. Yang filed an arbitration notice to HKIAC in September 2010, and commenced the arbitration procedures. Through the 20-month procedures, HKIAC has rendered the Final Award, which is fully in favor of the applicant.
