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
The Omnibus is finally here: changes to Singapore’s insolvency laws

Singapore’s Insolvency, Restructuring and Dissolution Act (the “IRDA“), together with 48 pieces of subsidiary legislation, comes into force today, 30 July 2020 (available here).

Filed under:
Singapore, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Coronavirus
Authors:
Alastair Henderson , Tomas Furlong , Elaine Wong , Gitta Satryani , Jamie McLaren , Reshma Nair
Location:
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 , Reshma Nair
Location:
Singapore
Firm:
Herbert Smith Freehills LLP