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Feature Stories “Hopewell Case”
“Hopewell Expressway” or abandoned cement columns, which can be seen at Vibhavadi Rangsit Expressway, became the symbol of the prolonged case that ended with alternative dispute resolution, namely arbitration.
Since12 years ago, Hopewell Company has chosen an alternative dispute resolution, namely arbitration against the Thai government, and received the award as a winning party.
The arbitral tribunal issued the award, which ordered the Ministry of Transport and State Railway of Thailand to reimburse Hopewell company in 1.18 billion baht, with an interest of 7.5 baht per year for wrongful termination of the contract. The Ministry of Transport and State Railway of Thailand then submit a request to the Administrative Court to revoke the arbitration award. However, the Supreme Administrative Court ruled that the government had to pay more than 24,000 million baht to Hopewell.
From this case, it can be seen that arbitration is enforceable domestically and internationally. There are more than 160 countries around the world that have signed the New York Convention, which suggests that arbitration is highly regarded internationally.
When an international dispute occurs, using a traditional dispute resolution can be quite complicated in the documentation, language, and law. As such, international disputes usually decided by arbitration as it is convenient, fast, easy, saving cost and time, and internationally recognized.
You can watch a short video by THAC to further understand the Feature Stories “Hopewell Case”. For more articles and news about the Hopewell case, click here.
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