I. Кредитор не вправе требовать исполнения первоначального обязательства до истечения установленного сторонами срока предоставления отступного   (КБ   "ЭКОНОМИКС-БАНК"   (ООО)   v.   ООО "Мясное подворье". Дело №ВАС-2504/14)

On 30 July 2012, the Presidium of the Supreme Commercial Court of the Russian Federation (the “SCC”) released its Review of rulings of the Presidium of the SCC (the “Review”) on major issues of private law for June 2012. In particular, the Review highlights that in bankruptcy proceedings a creditor’s claim upheld by an arbitration ruling may be included in the list of creditors without a writ of execution.

Circumstances of the case

On 30 July 2012, the Presidium of the Supreme Commercial Court of the Russian Federation (the “SCC”) released a Review of its rulings of the Presidium of the SCC on major issues of private law for June 2012. In particular, the Review indicated that during bankruptcy proceedings, a creditor’s claim upheld by an arbitration ruling may be included in the list of creditors without a writ of execution.  

Specifics of enforcing the consequences of the invalidity of a transaction whereby a pledgeholder leaves pledged property in its ownership.

(ruling No. VAS-14907/11 dated 20 March 2012)

By the above ruling, the Supreme Arbitration Court (SAC) has actually reinforced the specifics of enforcing the consequences of a transaction transferring a debtor’s pledged property being invalid if it is not possible to restore the parties to their initial position.

The COVID-19 (Temporary Measures) Act (the Act) will have a considerable impact on the enforcement of certain contracts and commercial disputes in Singapore for the next 6 to 12 months. The Act was passed by the Singapore Parliament, and commenced on the same day, 7 April 2020.

The key measures of the Act are:

Introduction

Singapore is positioning itself as a hub for insolvency and restructuring.(1) In particular, there has been an increase in cases of cross-border restructuring in Singapore.(2)

Introduction

In the recent High Court judgment in VTB Bank (Public Joint Stock Company) v Anan Group (Singapore) Pte Ltd,(1) the plaintiff successfully obtained a winding-up order on a debtor company six weeks after the service of a statutory demand for an underlying debt of $250 million.

Dispute Resolution

Singapore

Newsletter

December 2018

In This Issue:

Key Legal Developments

1. Arbitration 2. Construction

3. Commercial Litigation

4. Restructuring & Insolvency

5. Reforms to Singapore's civil justice system

Upcoming Events

Key Resources

For more information, please contact:

Nandakumar Ponniya Principal +65 6434 2663 nandakumar.ponniya @bakermckenzie.com

Celeste Ang Principal +65 6434 2525 celeste.ang @bakermckenzie.com

CLIENT UPDATE 2016 FEBRUARY 1 © Rajah & Tann Singapore LLP Key Legislative and Regulatory Developments in Singapore for the Year 2015 This Update provides a brief summary of the key statutory and regulatory developments in Singapore for the year 2015.

In the race between Singapore and Hong Kong to become the leading dispute resolution centre in Asia, Singapore may be taking the lead.

Singapore is forging ahead with plans to approve third party funding of disputes.

Draft legislation aimed at permitting third party funding of international arbitration (including related litigation and mediation), enforcement proceedings and proceedings to stay was published by Singapore’s Ministry of Law on 30 June 2016.

A milestone year