NO&T Asia Legal Review
Background
In a recent judgment rendered in April 2020, the Singapore Court of Appeal set aside a winding up order issued by the High Court at first instance and upheld an arbitration agreement pursuant to which a dispute in relation to the underlying debt claim was to be determined.
This decision, AnAn Group (Singapore) Pte Ltd v VTB Bank (Public Joint Stock Company) [2020] SGCA 33 (“AnAn Group v VTB Bank”) is significant on two fronts. First, it affirms the generally pro-arbitration stance adopted by the Singapore courts. Second, the position in Singapore is now clear that winding up proceedings will ordinarily be stayed or dismissed where the debtor can show that (i) there is a valid arbitration agreement between the parties and (ii) the dispute in respect of the debt falls within the scope of the arbitration agreement. The court would only refuse to grant a stay or dismissal in exceptional circumstances, such as where the debtor engages in an abuse of process or there is no genuine dispute in relation to the debt.
Junichi Ikeda, John Lane (Co-author)
(September 2023)
Kaori Sugimoto, Claire Chong (Co-author)
Claire Chong
Annia Hsu
(October 2023)
Kenji Tosaki
Kara Quek, Kei Kajiwara, Munetaka Takahashi (Co-author)
(November 2023)
Oki Mori, Mai Umezawa (Co-author)
(October 2023)
Yoshimi Ohara, Kara Quek (Comment)
(October 2023)
Yoshimi Ohara, Kara Quek (Comment)
Junichi Ikeda, John Lane (Co-author)
Soh Inoue
(May 2023)
Yoshimi Ohara, Yusuke Iwata, Annia Hsu (Co-author)
(November 2022)
Kei Asatsuma, Tomohiro Okawa (Co-author)
Yosuke Kanegae
(July 2022)
Kohei Okawa
Takashi Itokawa, Asuka Sugitani (Co-author)
Ayumi Fukuhara, Akiko Inoue, Simon Clemens Wegmann (Co-author)
Luciana Fransiska
Yuan Yao Lee
Kara Quek, Kei Kajiwara, Munetaka Takahashi (Co-author)
Luciana Fransiska
Yuan Yao Lee
Kara Quek, Kei Kajiwara, Munetaka Takahashi (Co-author)
Patricia O. Ko
Kara Quek, Kei Kajiwara, Munetaka Takahashi (Co-author)
Claire Chong
Justin Ee
Kara Quek