STARS of Singapore's arbitration scene will for the first time compete against the world's best, at the industry's top awards ceremony today.
Their presence at the event illustrates how the Republic has grown into a major global player in the booming industry - which helps firms resolve disputes without going to court.
Singapore is also flying the flag for Asia, as in three of the categories it is the only Asian country represented.
Senior Counsel Michael Hwang is among the seven nominees from around the globe for the arbitrator of the year award, while Rajah Tann's Chong Yee Long is up for advocate of the year.
An arbitrator judges a dispute between two parties while an advocate represents a party.
Mr Hwang and Mr Chong are the only Asian lawyers shortlisted in their respective categories. Also shortlisted is the Singapore International Arbitration Centre (SIAC), for institution of the year.
And Maxwell Chambers, which is only a few years old, is in the running to receive the award for 'most significant development' of the year because of its recent impact on the industry. It is the only Asian firm nominated in this category.
The inaugural awards event will be held in Seoul, South Korea.
It is hosted by the London-based Global Arbitration Review (GAR), a worldwide industry reference publication. The GAR100 lists the top arbitration firms each year. Local heavyweight Rajah Tann is the only Asian law firm to make it to the list for the last two years.
Maxwell Chambers chief executive Ban Jiun Ean said yesterday that the 'nominations for such prestigious awards show that Singapore is making quite a mark on the international arbitration scene'.
He added: 'It is clear recognition that the standard of international arbitration here is as good as can be found anywhere in the world.'
SIAC chief executive Minn Naing Oo added that the centre has one of the fastest growth rates of any institution in this arena.
The SIAC is up against established giants such as the Paris-based International Chamber of Commerce and the London Court of International Arbitration for the institution of the year award.
'The GAR nomination confirms global recognition of SIAC's status as a premier institution and we are proud to have received this accolade,' said Mr Minn.
Mr Hwang, 67, is a former Law Society president and current chief justice of the Dubai International Financial Centre.
Mr Chong, 46, said yesterday: 'Singapore is almost the only flag-holder from Asia for the named categories and it makes me very proud.'
The other Asian flag-holder is Hong Kong. Its International Arbitration Centre was nominated for institution of the year.
Yesterday, Law Minister K. Shanmugam said Singapore's success came from its reputation as a neutral venue and the way the SIAC attracted leading arbitrators from various international jurisdictions, which 'helped to lend depth of expertise'.
The SIAC has also streamlined its rules to 'ensure arbitration cases are resolved effectively and efficiently'.
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