Case Study of Astro vs Lippo
A long running legal battle was sought between Astor, a international satellite television network company owned by Malaysia big shot Amanda Krishna and First Media, a brand of multifarious owned Lippy Group led by James Ready when the latter failed to pay the USED$250 million to the Malaysian based Company despite by court order on July 2012, by High Court Judge Beeline Nag which was followed by a three-day hearing, enforcing the awards made back in February 010 by the Singapore International Arbitration Centre (ASIA), upholding First Media to follow the payment procedures.
It was mentioned that the lack of Jurisdiction couldn’t be conjured by First Media to resist the enforcement of the awards as it had not chosen to appeal on the hearing three years ago.
Despite the clear orders ruled by the High Court, on March 1st 2013 First Media’s lawyers from Bradawl Brothers ALP submitted a written submission In hearsay that the Judge made (as quoted from the star online article) “several key errors in her analysis on the enforcement of the awards” and that the Judgment itself, as quoted by the Singapore Straits Times; “ought to be reversed on the basis that the Jakarta-based firm was entitled to resist the enforcement of the awards although it had not taken steps to set them aside” On a 10 hour session In Singapore Court In April 2013, First Medal then continued to defend that they did not waived their right to object to the award despite their participation in the arbitration hearings earlier In 2010 to which the acting lawyer for Astor, Mr..
David Joseph, argued In return that First Medal had given up their right to object due to the lack of objection In timing at the arbitration tribunal’s ruling within the stipulated time frame.
The final result has yet been made as the Judge also noted that It Is possible for a party to participate In arbitration while malignantly reservations on Jurisdiction. There Is still news to be heard regarding the final hearing. Personally, I refrain myself from slang with sides when reading about court cases ND many subjects regarding the law though for this case, It Is clear that First Medal Is trying to hold off and avoid paying Astor the hefty sum though understandable as well as that sort of money would probably send them straight to bankruptcy or by most burn a huge hole In their pocket.
And I have my doubts against the CEO of Lippy who In 2001 pleaded guilty In a ‘defraud to the US’ case where he admitted to being Involved with a conspiracy through Illegal contributions to the campaigns of Bill Clinton and other democrats, resulting him from being barred by the United States of America. With such a history, It’d come to no surprise that he’d want to escape from yet another financial court case especially at a sum of almost 300 million.
My conclusion Is that First Medal Is trying to avoid or at least get the ruled award null Ana Volta to Aviva ten payment promotes to Astor Ana teen snouts Just stop stalling the case year after year and proceed with the payment.