A $490 million arbitration award issued under the rules of the Singapore International Arbitration Centre (SIAC) is facing scrutiny as the Singapore International Commercial Court prepares to hear a challenge

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“The immediate consequence of this regime coming into force has been that some civil courts in Barcelona and Madrid have become flooded by lawsuits precisely aimed at trying to avoid having to go through the ADR proceeding,” a Uría Menéndez partner said.

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