A US$250 million court battle between a Malaysian media group and a major Indonesian conglomerate that recently ended in Singapore could soon see a sequel, this time in Hong Kong.
The high court there on Wednesday ordered a $44 million claim that had been due to Malaysia's Astro to be suspended.
was to allow it to consider the latest Singapore ruling on the case,
which left Astro with just a fraction of the about $250 million it had
originally won from the Lippo group in arbitration in Singapore.
saga began when a pay-TV joint venture inked in 2005 between Astro and
First Media, a subsidiary of Lippo, soured two years later.
May 2009 and August 2010, the Singapore International Arbitration
Centre made five awards in Astro's favour, allowing it to recoup about
$250 million it had sunk into the deal.