Singapore Court recognises Indonesian PKPU proceedings for the first time

In a move that facilitates the seamless integration of cross-border insolvency proceedings between Singapore and Indonesia, Singapore’s International Commercial Court has for the first time granted recognition of Indonesian PKPU proceedings in Re PT Garuda Indonesia (Persero) Tbk [2024] SGHC(I) 1.

Filed under:
Indonesia, Singapore, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
Authors:
Jonathan Tang , Daniel Waldek , Prawidha Murti
Location:
Indonesia, Singapore
Firm:
Herbert Smith Freehills LLP
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 agreement pursuant to which the dispute underlying the debt should first be resolved.

Filed under:
Singapore, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
Authors:
Alastair Henderson , Gitta Satryani , Daniel Waldek , Reshma Nair
Location:
Singapore
Firm:
Herbert Smith Freehills LLP