The Singapore International Commercial Court ("SICC") has handed down its first insolvency-related ruling. The court granted recognition and full force and effect to Indonesia's flagship airline's restructuring plan. That...more
Creditors involved in cross-border restructuring or insolvency proceedings of corporate groups will find that the approach of the Singapore courts to questions of cross-border insolvency provides the assurance of an orderly...more
In Anupam Mittal v Westbridge Ventures II Investment Holdings, [2023] SGCA 1, the Singapore Court of Appeal (“SGCA”) held that the law governing the arbitration agreement governs arbitrability at the pre-award stage, and...more
Since 1 October 2022, the Singapore International Commercial Court now has jurisdiction to hear cross-border restructuring and insolvency matters. In addition, foreign lawyers may be appointed to make submissions in...more
Restructuring debt obligations under Singapore law can be an attractive option for companies seeking debtor-led reorganisations, as the country aims to be a centre for debt restructuring in Asia. There are options for...more
The Singapore High Court has clarified the definition of “centre of main interests” in the context of a crypto exchange group seeking to restructure its collective debts in Singapore. The analysis has implications to any...more
In Re Tantleff, Alan [2022] SGHC 147, the Singapore High Court considered for the first time whether the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency (30 May 1997) (the...more
International arbitration inevitably involves different parties from different jurisdictions. The parties, their counsel, the seat, the arbitrators, the governing law of the contract, the setting of the relevant facts, and...more
The Court of Appeal of Singapore considered that a “manifestly incoherent” arbitral award would mean parties have not been accorded a fair hearing and a remission would not be appropriate where it is objectively assessed that...more
The automatic stay under the version of the UNCITRAL Model Law on Cross-Border Insolvency adopted by Singapore ("Singapore Model Law") is an accessible and powerful tool for protection under the Singapore restructuring regime...more
In a recent anonymized judgment, the Hong Kong Court of First Instance held that compliance with an "escalation clause," a procedural requirement for the commencement of arbitration, was an issue to be decided by the arbitral...more
While tribunals in Singapore enjoy wide discretion in managing procedural and evidentiary matters in arbitrations, that discretion is not unfettered and does not necessarily allow a tribunal to deny parties the right to...more
In CVP v. CBS [2020] SGHC 23, the Singapore High Court had the opportunity to determine whether an arbitrator had a right to deny one party from hearing evidence from any of the plaintiff’s witnesses. At issue was whether...more
On January 6, Singapore took the next step in effectuating an international enforcement regime for mediated settlement agreements by introducing legislation to become the first nation to ratify the Singapore Convention....more
The Situation: On August 7, 2019, the United Nations Convention on International Settlement Agreements resulting from Mediation ("Mediation Convention") was signed by 46 states. Notably, the European Union and the United...more
On August 7, 2019, forty-six nations signed the Convention on International Settlement Agreements Resulting from Mediation (the “Singapore Convention”) in Singapore. Negotiated and agreed under the auspices of the United...more
On 9 May 2019, the Singapore Court of Appeal in Rakna Arakshaka Lanka Ltd v Avant Garde Maritime Services (Pte) Ltd [2019] SGCA 33 considered whether a respondent who failed to appeal to the Singapore courts in accordance...more
The Situation: On June 26, 2018, the United Nations ("UN") Commission on International Trade Law approved the final draft of the Singapore Mediation Convention ("Convention"), the significance of which was discussed in a...more
With decorated trees, snow on the ground (and painted on the walls), coffee cups coloured red and green, and spiritual imagery regularly seen; it is a time for goodwill, festive cheer and reflection. But does this general...more
The Court also dismissed applications to challenge the jurisdiction of an arbitral tribunal and to set aside a final award, in a case that highlights the importance of “Priority of Documents” or “Order of Precedence” clauses...more
The Singapore Mediation Convention, which is expected to be signed on August 1, 2019, will make it easier for businesses to enforce mediated settlement agreements with their cross-border counterparts. The Singapore...more
The Situation: In a recent application to set aside a Singapore arbitral award, the Singapore High Court considered whether a tribunal could order one of the parties to disclose certain documents only to the other party's...more
Legislative changes in Singapore and the EU introduce pre-insolvency processes facilitating non-consensual debt restructurings or cram downs comparable to those already available in London and New York. In particular, the EU...more
On March 10, 2017, Singapore's Parliament approved the Companies (Amendment) Bill 2017 (the "Act") to enhance the country's corporate debt restructuring framework. The Act, a copy of which is available here, was assented to...more
Despite recent criticism from some quarters concerning the use of investment treaties and free trade agreements, the Chinese investment treaty system remains firmly in place. Since 1982, the People's Republic of China (PRC)...more