An investor's guide to the sector and its regulations.
Khory McCormick is a market-recognised expert in dispute resolution and head of Brisbane’s Commercial Advisory, Dispute Resolution, and Government Law groups.
A formidable strategist, negotiator and litigator across multiple legal disciplines, Khory provides wide-ranging issues management and conflict advice to corporate and government decision makers at the highest levels.
He draws upon 30 years of practice spanning all aspects of commercial activity in diverse industry sectors. He brings broad and deep expertise to complex litigation or arbitration in the corporate and public arena; finance and insolvency; resource commodities and long term supply contracts; infrastructure and engineering projects; industrial relations; media; and regulatory and compliance issues.
Khory has been at the forefront of numerous landmark court cases in Australia. His 'go to’ reputation and high level private and public experience has seen him regularly retained in complex transactions for his strategic and lateral thinking capabilities.
Khory's conflict resolution expertise is recognised through roles within key arbitration and dispute resolution bodies. He has held numerous senior company board positions and strategic advisor appointments, often called upon for his expertise in times of controversy.
Known for his thought leadership and recognised as a leading lawyer in peer guides, Khory is a noted national and international platform speaker and prolific author on multiple legal issues in Australian business and public life.
The close of 2013 saw the ICC launching the new ICC Mediation Rules at a global launch event in Paris. The new Rules, which entered into force on 1 January 2014, replace the ICC ADR Rules.
Two cases in the UK and China have called into question the certainty of alternative dispute resolution outcomes for international traders. Both judgements highlight the impact varying legal frameworks have on dispute resolution mechanisms within the jurisdictions of Australia's trading partners.
A recent decision in the Victorian Supreme Court calls into question the enforceability of dispute resolution clauses in commercial contracts. The case serves as a warning to businesses when relying on the clause in future.
The Singapore International Arbitration Centre (SIAC) has announced a new governance structure and a revised edition of the SIAC Rules of Arbitration, effective from 1 April 2013. Clients should not underestimate the significance of these changes.
On 13 March 2013, the High Court of Australia unanimously dismissed an application by TCL Air Conditioner (Zhongshan) Co Ltd restraining the judges of the Federal Court from enforcing an arbitral award.
On 31 December 2012, the China International Economic and Trade Arbitration Commission (CIETAC), a foreign-related arbitration commission set up by the China Council for the Promotion of International Trade (also known as the China Chamber of International Commerce) (CCPIT), released its Announcement on Issues Concerning CIETAC Shanghai Sub-Commission and CIETAC South China Sub-Commission" (the Latest Announcement). This is the latest development in a dispute, which has been on foot since April 2012, between CIETAC, the Shanghai Sub-Commission of CIETAC (CIETAC Shanghai), and the Shenzhen Court of International Arbitration (SCIA) (the CIETAC Dispute). SCIA was known as the South China Sub-Commission of CIETAC before 22 October 2012.
In this edition of Trade Law Focus, we look at:
On 24 October, the Education Legislation (Amendment) Bill 2012 (the Bill) was second read in Victorian Parliament. If passed, the Bill will result in the abolition of the Victorian Skills Commission; modify contract law regarding VET funding contracts for the delivery of publically funded education, establish additional governance provisions for TAFE and adult education institutions, and introduce new governance arrangements for Victorian public universities.
Australia's latest autonomous sanctions against Iran and Syria are now in effect, as of 21 August 2012. The measures make engagement with certain sectors in Iran and Syria illegal and ban the trading of a certain goods and services with these countries. The sanctions also require any persons, organisations or businesses with contractual obligations to engage in any of the listed prohibited transactions with Iran or Syria to apply to the Department of Foreign Affairs and Trade for an authorisation to fulfil that obligation by 20 September 2012. Fulfilling those obligations is prohibited without first receiving authorisation from DFAT.
Welcome to the August edition of Trade Law Focus. In this edition we examine the Joint Standing Committee on Treaties (JSCOT)'s shelving of the Anti-Counterfeiting Trade Agreement. We also discuss the proposed National Food Plan, the Brumby Anti-Dumping Review, the potential introduction of a National Integrity Commission, and the impact of international trade regulations on M&A due diligence
Welcome to the May edition of Trade Law Focus. In this edition we give an update on developments in the Australian Government's negotiations in the Trans-Pacific Partnership Agreement, especially in health and intellectual property, and comment on submissions received on the Defence Trade Controls Bill. We also highlight a recent announcement to ease sanctions against Burma, signalling a major shift in foreign policy toward that country and examine the FIRB report on the 'national interest test' in the Foreign Acquisitions and Takeovers Act.
Welcome to the December edition of Trade Law Focus. In this edition we update on developments with the Australian Government's overhaul of its trade laws, notably in the areas of strategic export controls, sanctions multilateral and autonomous sanctions, and the anti-dumping and countervailing duty system. We also provide our regular summary of recent developments in trade law in Australia and New Zealand.
October 5 2011, the High Court handed down its judgement in Westport Insurance Corporation & Ors v Gordian Runoff Limited, clarifying an arbitrator's obligation to give reasons.
On 12 September 2011, the International Chamber of Commerce (ICC) unveiled the latest version of its Rules of Arbitration which commence on 1 January 2012. Following a review that began in 2008, the new Rules were approved by the ICC World Council in Mexico City in June this year. The revised Rules aim to address the complexities of international commercial and business disputes, and include amendments borne of experience gained from using the 1998 Rules.
Welcome to the September edition of Trade Law Focus. Much has been happening in the trade space over the past few months, including law reform legislation or proposals on Australia's strategic export controls, sanctions as well as its anti-dumping and countervailing duty system.
This edition of Trade Law Focus begins with overview of the recent exposure draft to the Defence Trade Controls Bill, followed by our regular update on developments in the Australian and New Zealand trade law environments.
In a high profile dispute over access to Chinese natural resources, a WTO panel on Tuesday 5 July found that China violated international trade rules by restricting the exportation of nine raw materials, refuting Beijing’s claim that these restrictions were based on environmental grounds.
The Australian Government has announced reforms to Australia's anti-dumping and countervailing duty laws. Although legislation to effect the reforms is yet to be released, the announcement last night will be important for domestic manufacturers of products such as building materials, plastics, chemicals and grocery items, local consumers, as well as importers and overseas exporters of goods to Australia.
On 30 March 2011, the United Kingdom Supreme Court abolished the immunity previously enjoyed by experts for testimony given in court proceedings. Although the case involved a claim for negligence by the party who retained the expert in question, and was a personal injuries matter, the court said expert witness immunity could no longer be justified on public policy grounds.
The new format Trade Law Focus will now update you monthly on trade issues relevant to Australia and New Zealand businesses.
The enforcement principles discussed by the UK Supreme Court in Dallah v Pakistan have been considered in a recent decision of the Supreme Court of Victoria, confirming the prediction expressed in our Alert from 25 November 2010.
UK Supreme Court refuses to enforce an arbitral award under the New York Convention. The Supreme Court of the United Kingdom has upheld two lower court decisions refusing to enforce an arbitral award under the New York Convention in the recent decision of Dallah Real Estate and Tourism Holding Company v The Ministry of Religious Affairs, Government of Pakistan  UKSC 46.