SINGAPORE COURT HOLDS THAT USDT IS PROPERTY CAPABLE OF BEING HELD ON TRUST

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

ARBITRAL DELIBERATIONS STAY SECRET DESPITE ALLEGATIONS TANTAMOUNT TO TRIBUNAL DISHONESTY

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

OVER-SHARING ON SOCIAL MEDIA LEADS TO LOSS OF ARBITRAL CONFIDENTIALITY IN SINGAPORE

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

PRIVATE EQUITY FIRM PREVAILS OVER INDIAN PROMOTOR’S GUERRILLA TACTICS, MAKING NEW LAW ON THE ARBITRABILITY OF DISPUTES IN SINGAPORE

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

CONDITIONAL FEE AGREEMENTS NOW PERMITTED IN SINGAPORE

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

HERBERT SMITH FREEHILLS – SMU ASIAN ARBITRATION LECTURE: “WITNESSES AND WEBCAMS: THE PSYCHOLOGY OF WITNESS EVIDENCE IN A VIRTUAL WORLD

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

SINGAPORE TO ALLOW CONDITIONAL FEE ARRANGEMENTS

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