Arbitration hearing in Hong Kong in row over US$500m railway contract

A dispute over a US$500 million railway contract between the Philippine government and a large Chinese state-owned company will be heard at the Hong Kong International Arbitration Centre - a move hailed as a vote of confidence in the city's judicial independence.

The row between North Luzon Railways (North Rail) and China National Machinery and Equipment Corporation (Sinomach) over a lucrative project near Manila has dragged on for years, adding tension to already strained Sino-Philippine ties.

via Business feed http://www.scmp.com/business/companies/article/1138893/arbitration-hearing-hong-kong-row-over-us500m-railway-contract