NRW got another win today, page-79

Thanks @Litigant,

I've gone through the document you linked to and the FAQ page of the Singapore Arb centre again:

http://www.austlii.edu.au/au/legis/wa/consol_act/cca2004284/
http://www.siac.org.sg/faqs

here's what I'm thinking is the case :

- the contract is governed by the law of WA
- the WA CCA comes into play because of that (it doesn't even need to be mentioned in the contract)
- Any party can ask for adjudication under the WA CCA and NRW are doing this with success so far
- The SIAC is mentioned in the contract
- Both parties have to agree to bring a dispute before the SIAC but I think the mention in the contract is effectively that agreement so either could register a request for Arbitration unilaterally now?
- The SIAC would then rule on the contract and claims by the parties based on WA Law
- The SIAC findings would be upheld by WA Courts and enforced that way (the FAQ page implies this)

So I think:
- NRW are pursuing Samsung under WA Law and that is final once an adjudication is made (it can't be re-adjudicated in WA)
- The NRW wording implies Samsung are just happy with the stalemate where they hold NRW's money
- I don't think we have any proof or indication that they have registered for any SIAC arbitration yet?
- I don't think SIAC is a threat to the judgements handed down so far for the above reasons - I suspect that an arbitrator cannot rule on a case already heard under law
- I think Samsung may be able to appeal to the WA Supreme Court and I think they have a fixed time (30 days?) to do this (they may need to seek leave to appeal) - just guessing here really
- There maybe other claims being adjudicated - they just have not been decided yet

The question is then: Can NRW get a binding resolution without SIAC for the practical completion date and the liquidated damages e.g. - using the WA CCA? I'm guessing not? They will need to get a finding for some things from SIAC and then bring it back to WA to have it enforced.

NRW are still clearly hoping that Samsung will negotiate an outcome I suspect because of the time delays getting an outcome from SIAC. Agree @Litigant that we can't rely on this happening, although I think there is some chance it will based on the findings and the reputational impact. But I can't quantify this.

However, if the WA CCA findings can deliver some cash in the short term, then NRW can at least meet it's FY16 debt obligations. IF the SIAC process hasn't even started, we are a long way from getting any cash from that process. However a contract win next year would give NRW negotiating power with it's bankers you'd think and the SIAC process maybe could become a longer term source of cash and value for shareholders.

Cheers,
pb