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In a pioneering decision in the common law, the Singapore High Court has held that Tether (a type of cryptocurrency known as fiat-backed stablecoin, pegged to the US dollar and also known as USDT) is property – specifically a chose in action. In ByBit Fintech Limited v Ho Kai Xin [2023] SGHC 199, Philip Jeyaretnam … Read more
The Singapore International Commercial Court has refused to order disclosure of the deliberations of a three-member tribunal in a Singapore-seated ICC arbitration, despite the dissenting arbitrator’s “serious allegations tantamount to accusing the Majority of dishonesty“. This case shows that there is a high bar to obtain disclosure of a tribunal’s deliberations, even if one of … Read more
The Singapore High Court has dismissed a winding-up application by a prospective creditor where the basis of the alleged outstanding debt was subject to a contract containing arbitration clauses (Founder Group (Hong Kong) Ltd (in liquidation) v Singapore JHC Co Pte Ltd [2023] SGHC 159). Read more
The Singapore Court of Appeal has refused confidentiality orders in relation to arbitration enforcement proceedings because the confidentiality of the underlying arbitration had already been lost. The court relied on the publication of the underlying award online and in foreign enforcement proceedings, and press coverage of the Singapore proceedings that had been “effectively confirmed” when … Read more
In an ugly corporate divorce related to an online matrimonial website, the Singapore Court of Appeal decided that the arbitrability of a dispute will be determined at the pre-award stage by reference first to the law governing the arbitration agreement (Anupam Mittal v Westbridge Ventures II Investment Holdings [2022] SGCA, available here). Read more
In CEF and another v CEH, the Singapore Court of Appeal partially set aside a €62 million ICC award concerning the construction of an iron and steel plant in Malaysia. In its award, the Tribunal had adopted a “flexible approach” to damages and awarded damages for misrepresentation against the contractors of around RM 176m (around … Read more
Lawyers in Singapore are now able to enter into Conditional Fee Agreements (CFAs) in selected proceedings, including arbitration and certain Singapore International Commercial Court (SICC) proceedings. In January 2022, Singapore passed a bill to permit CFAs (see our post here). This bill came into effect on 4 May 2022, with the passing of the Legal … Read more
It is with great pleasure that we invite you to the annual Herbert Smith Freehills-SMU Asian Arbitration Lecture on Tuesday, 23 November 2021, 5.00pm (Singapore time). The Herbert Smith Freehills-SMU Asian Arbitration Lecture Series was established in 2010 and made possible by a term fund contribution by Herbert Smith Freehills. The objective of the Lecture Series … Read more
On 1 November 2021, a bill to permit Conditional Fee Arrangements (CFA) had its first reading in the Singapore Parliament. If the bill is passed, it will permit law firms and lawyers in Singapore to enter into CFAs with their clients in respect of certain types of disputes (whether relating to proceedings in Singapore or … Read more