The Interplay of Cryptocurrency with Insolvency Law: Singapore High Court clarifies that cryptocurrency liabilities are a debt under the Insolvency, Restructuring, and Dissolution Act 2018

Introduction

Filed under:
Singapore, Banking, Compliance Management, Insolvency & Restructuring, IT & Data Protection, Litigation, Oon & Bazul LLP, Blockchain, Cryptocurrency, Non-fungible tokens, Insolvency, Singapore High Court
Authors:
Bazul Ashhab , Lionel Chan
Location:
Singapore
Firm:
Oon & Bazul LLP
Case Note: Recognition of Indonesian Bankruptcy Order in Singapore (Paulus Tannos v Heince Tombak Simanjuntak and others)

In the recent case – Paulus Tannos v Heince Tombak Simanjuntak and others and another appeal [2020] SGCA 85 (‘Paulus Tannos’), the Singapore Court of Appeal held that in determining whether to recognise a foreign bankruptcy order, the Singapore Courts could decline to recognise the foreign bankruptcy order (‘BO’) if there was, according to Singapore law, a breach of natural justice in obtaining the foreign BO.

Facts

Filed under:
Indonesia, Singapore, Insolvency & Restructuring, Litigation, Oon & Bazul LLP
Authors:
Bazul Ashhab , Lionel Chan
Location:
Indonesia, Singapore
Firm:
Oon & Bazul LLP