ENGLISH HIGH COURT GRANTS AN ANTI-SUIT INJUNCTION IN FAVOUR OF ARBITRATION IN RESPECT OF PROCEEDINGS UNDER FOREIGN INSOLVENCY LEGISLATION

In Riverrock Securities Limited v International Bank of St Petersburg (Joint Stock Company) [2020] EWHC 2483 (Comm) the High Court granted Riverrock Securities Limited (“RSL”) an interim anti-suit injunction against bankruptcy proceedings brought against RSL by the receiver of the International Bank of St Petersburg (“IBSP”) (the Bankruptcy Proceedings). Read more

STUCK IN THE MIDDLE? SINGAPORE COURT WARNS PARTIES IN A CHAIN FROM TAKING INCONSISTENT POSITIONS IN EITHER DIRECTION, BUT BLOCKS WINDING-UP PROCEEDINGS IN FAVOUR OF ARBITRATION

In BWG v BWF [2020] SGCA (“BWG”) the Singapore Court of Appeal considered the application of the “prima facie dispute” ground which a Singapore debtor (the Respondent) raised to resist winding up proceedings when there was a valid arbitration agreement. The Court of Appeal considered this in circumstances where the Appellant alleged that the debtor’s … Read more

SINGAPORE COURT OF APPEAL INTRODUCES A LOWER STANDARD OF REVIEW FOR DEBTORS DEFENDING A DISPUTED DEBT THAT IS SUBJECT TO AN ARBITRATION AGREEMENT

In AnAn Group (Singapore) Pte Ltd v VTB Bank (Public Joint Stock Company) [2020] SGCA 33, Justice Steven Chong, delivering the judgment of the Court, (1) overturned the decision of the High Court which allowed a creditor (VTB Bank) to proceed with its winding up petition against a debtor (AnAn), and (2) upheld the arbitration … Read more