Allen & Gledhill LLP

Landmark decision that legal and equitable set-offs not permissible against a company in liquidation

The General Division of the Singapore High Court in Park Hotel CQ Pte Ltd (in liquidation) & Ors v Law Ching Hung and Park Hotel Management Pte Ltd (in liquidation) & Ors v Law Ching Hung & Ors [2024] SGHC 105 has decided two major points of insolvency law for the first time.

Film distributor found liable in first case invoking Simplified Process for Certain IP Claims

In Tiger Pictures Entertainment Ltd v Encore Films Pte Ltd [2024] SGHC 39, the General Division of the Singapore High Court found that the defendant, a film distribution company, had infringed the claimant’s copyright in a top-grossing Chinese film.

Liquidators should be cautious of acting summarily as judge, jury and executioner

On 5 March 2024, in Kyen Resources Pte Ltd (in compulsory liquidation) & Ors v Feima International (Hongkong) Ltd (in liquidation) and another matter [2024] SGCA 7, the Singapore Court of Appeal decided three major points of law for the first time.

Significant Investments Review Act 2024 in force

he Significant Investments Review Act 2024 and its related subsidiary legislation, the Significant Investments Review Regulations 2024 and the Significant Investments Review (Reviewing Tribunal) Rules 2024, come into force on 28 March 2024.

Mickey Mouse enters the public domain: The end of a cultural icon?

Many would be familiar with Walt Disney Studios as one of the greatest pioneers of modern animation.

Singapore publishes eligibility list for international carbon credits under carbon tax regime

On 19 December 2023, the Ministry of Sustainability and the Environment and the National Environment Agency issued a press release setting out the eligibility list under the International Carbon Credit Framework, which will take effect from 1 January 2024.

Singapore courts’ crypto-friendly approach shown in new ruling that cryptocurrency can be property

In the recent case of ByBit Fintech Ltd v Ho Kai Xin & Ors [2023] SGHC 199, the General Division of the Singapore High Court considered whether the cryptocurrency stablecoin known as “Tether” constitutes property that is capable of being held on trust.

Digital tokens and customer protections

The global regulatory environment governing the sale, purchase, exchange, transfer, and custody of cryptocurrencies is changing.

MAS finalises stablecoin regulatory framework, responds to feedback received on public consultation

On 15 August 2023, the Monetary Authority of Singapore announced the features of a new regulatory framework that seeks to ensure a high degree of value stability for stablecoins regulated in Singapore.

Refinements to list of non-residential properties under Residential Property Act 1976

On 19 July 2023, the Ministry of Law and the Singapore Land Authority jointly announced that the list of non-residential properties under the Residential Property Act 1976 as set out in the Schedule to the Residential Property Notification would be refined by updating the list of land use zones

Singapore High Court considers when insured may recover under insurance policy for sums payable

In SYT Consultants Pte Ltd v QBE Insurance (Singapore) Pte Ltd, the General Division of the Singapore High Court considered whether an insured, who had settled a claim against it by third parties without obtaining the insurer’s approval on such settlement, could subsequently rely on the settlement

Singapore High Court issues decision in first case on Simplified Process for Certain IP Claims

In Tiger Pictures Entertainment Ltd v Encore Films Pte Ltd, the Singapore High Court explained the factors in determining the suitability of the recently introduced “Simplified Process for Certain Intellectual Property Claims” to a claim.

COP27: Impact on Singapore and South-east Asia

The 27th Conference of the Parties (“COP27”) to the United Nations Framework Convention on Climate Change took place in the Egyptian coastal city of Sharm el-Sheikh from 6 to 20 November 2022 and concluded with the launch of the COP27 cover decision known as the Sharm el-Sheikh Implementation Plan.

Singapore Court of Appeal rules for the first time on principles for costs recovery before the SICC

On 25 November 2022, a five-judge coram of the Singapore Court of Appeal in Senda International Capital Ltd v Kiri Industries Ltd [2022] SGCA(I) 10 ruled on the principles for the assessment of costs for proceedings in the Singapore International Commercial Court (“SICC”) for the first time.

SICC dismisses application to set aside arbitral award on grounds of invalidity of agreement

In CPU v CPX, the SICC dismissed an application to set aside an arbitral award on the grounds that the underlying arbitration agreement was invalid by reason of the applicants’ incapacity, and that there had been a breach of the rules of natural justice.

MAS regulatory framework for financial holding companies in force

The Financial Holding Companies Act 2013, which introduces a regulatory framework for the Monetary Authority of Singapore to regulate financial holding companies and their financial groups, has entered into force.

Kiri succeeds in appeal before Singapore Court of Appeal in landmark decision

On 6 July 2022, the Singapore Court of Appeal in Kiri Industries Ltd v Senda International Capital Ltd & Anor allowed Kiri Industries Limited’s appeal that a discount for lack of marketability should not apply to the valuation of Kiri’s shareholding in its joint vehicle, DyStar Global Holdings.

ACRA and SGX RegCo establish committee to advise on sustainability reporting roadmap for Singapore-i

On 21 June 2022, the Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation announced that they have established a Sustainability Reporting Advisory Committee to advise on a sustainability reporting roadmap for Singapore-incorporated companies.

Framework for conditional fee agreements in Singapore in effect from 4 May 2022

The framework for conditional fee agreements in Singapore has come into operation from 4 May 2022.

SGX mandates climate and board diversity disclosures

On 15 December 2021, Singapore Exchange announced that it will proceed with plans to require issuers to provide climate-related reporting based on recommendations of the Task Force on Climate-related Financial Disclosures and disclosures on board diversity.

ACRA consults on proposed amendments relating to data, digitalisation, and corporate transparency

ACRA regularly reviews and seeks public feedback on legislation to foster a trusted and vibrant business environment in Singapore.

Singapore commits to phasing out unabated coal power by 2050

On 4 November 2021, the National Climate Change Secretariat, Ministry of Trade and Industry and Ministry of Sustainability and the Environment issued a statement announcing that Singapore has joined the Powering Past Coal Alliance.

Third-party funding permitted for more categories of legal proceedings in Singapore

From 28 June 2021, the third-party funding framework in Singapore has been expanded to cover domestic arbitration proceedings, certain proceedings in the Singapore International Commercial Court, and related mediation proceedings.

Banking Act amended to rationalise banking regulation and enhance prudential oversight

On 1 July 2021, the Banking Act was amended by the Banking (Amendment) Act 2020 to rationalise banking regulation by removing the divide between the Domestic Banking Unit and the Asian Currency Unit, and to consolidate the licensing and regulation of merchant banks under the BA.

New appellate structure in Singapore Supreme Court implemented on 2 January 2021

The Supreme Court of Singapore, which comprises the Court of Appeal and the High Court, has restructured its High Court into the General Division of the High Court and the Appellate Division of the High Court.

MAS revises Technology Risk Management Guidelines to combat heightened cyber risks

On 18 January 2021, the Monetary Authority of Singapore issued the revised Technology Risk Management Guidelines to keep pace with emerging technologies and shifts in the cyber threat landscape.

China’s new foreign investment regime in force from 1 January 2020

The new Foreign Investment Law of the People’s Republic of China has come into effect from 1 January 2020. It was adopted by the PRC National People’s Congress on 15 March 2019.

China reduces restrictions and prohibitions on foreign investment

On 23 June 2020, the National Development and Reform Commission and the Ministry of Commerce of the People’s Republic of China jointly issued the Special Administrative Measures for the Access of Foreign Investment (Negative List) (2020 Version).

New IPOS initiatives for companies including expedited registration for trade marks

The ninth edition of IP Week @ SG took place digitally from 25 to 27 August 2020. Presented by the Intellectual Property Office of Singapore, this IP event brought together IP thought leaders, legal experts and innovative enterprises through a suite of live, complimentary webinars.

Soft Opening of Myanmar’s new trademark registration system on 1 October 2020

On 28 August 2020, the Myanmar Ministry of Commerce issued Order No. 63 of 2020 announcing the long-awaited commencement date of the soft opening of the new trademark registration system.