Evaluating Admissibility of Confidential Information as Evidence in Disputes BUI NGOC HONG, LE THANH CONG AND NGO DINH THIEN To start a legal due diligence (LDD) investigation, it is customary for the purchaser to be bound by confidentiality obligations under a Non-Disclosure Agreement (NDA) signed with the target/sellers. The NDA is expected to prevent the purchaser from disclosing the confidential information gained during the LDD process. When an M&A dispute arises, the following questions become practical for dispute resolution: • Is the disclosure of information to the arbitral tribunal or arbitration center considered a breach of the NDA? • Will the arbitral tribunal accept the confidential information as evidence for resolving the dispute? The following case in this article will offer practical insights into the legal considerations surrounding the disclosure of confidential information in arbitration proceedings in Vietnam. Case Background The M&A transaction in this case involves a purchaser contemplating to acquire a majority stake in a target that operates an international hospital in Vietnam. Before commencing the LDD investigation, the parties executed an NDA specifying that all information provided must remain confidential, with the sole exception being disclosure required by State authorities. During the LDD investigation, a misdiagnosis incident was disclosed to the purchaser. However, it was asserted by the sellers/target that this incident does not qualify as medical malpractice and accordingly, the sellers warranted that, to the best of their knowledge, no medical malpractice involving the target has occurred. Nevertheless, after closing, the purchaser became aware of other documents raising concerns about this incident potentially being a medical malpractice. The purchaser then sought to terminate this transaction,...