Danny Ong

Acted for B2C2 Ltd, one of the world’s largest market makers in digital currencies, in proceedings before the Singapore International Commercial Court involving allegations of manipulation via algorithmic trading and misappropriation of bitcoins. This was the first action in Singapore involving the trading of digital currencies.

Acted for a private equity fund with over $20 billion in capital under management in various enforcement proceedings for the recovery of over $220 million arising from distressed situations in China.

Acted for various special situations funds in enforcement actions against an Indonesian tycoon and his companies arising from default in a $200 million facility, which involved multiple proceedings in Singapore and Indonesia.

Acted for STMicroelectronics Asia, one of the largest global semi-conductor manufacturers, in a dispute relating to the supply of chips for a $600 million national identity card project in Southeast Asia, involving parallel proceedings in Singapore and Indonesia.

Represented a Singapore company in defending a S$270 million claim by a BVI company in relation to alleged financing provided for acquisition of assets in the solar industry across multiple jurisdictions. The dispute involved issues of Chinese laws, and has spawned parallel proceedings in the BVI and China.

Represented MAN Diesel Group, the world market leader for large diesel engines for use in ships and power stations, in defending an action before the Singapore Courts brought by Skaugen Group, a marine transportation services provider headquartered in Norway, for the recovery of damages for alleged fraudulent misrepresentation and manipulation on the part of MAN Diesel in relation to fuel consumption values of certain diesel engines manufactured and delivered by MAN Diesel in the early 2000s.

*The representative cases above include matters which our lawyers worked on in other firms prior to Setia Law LLC.

Acted in a $200 million claim for a Russian bank in relation to a fraud and asset recovery claim, involving proceedings in Singapore, Cyprus, Belize, Russia, and BVI.

Acted for liquidators of gold and asset trading companies in investigations and claims arising from the misappropriation of over $1 billion dispersed through over 40 companies across UAE, UK, and Singapore.

Acted for a bank in respect of misappropriation of over $200 million and fraud and tracing claims arising therefrom against multiple parties in various jurisdictions, with worldwide freezing and disclosure orders obtained in various jurisdictions, including Singapore, Hong Kong, England, Switzerland, Nigeria, and US.

Acted in a claim for fraud and corruption brought by various Mongolian state-owned entities against the former Prime Minister of Mongolia, Batbold Sukhbaatar, and his alleged nominees and associates.

Acted for the liquidators of BSI Bank and separately, a US investment bank, in relation to investigations into alleged laundering and dissipation of some $1 billion purportedly belonging to Malaysian-state owned company, 1MDB, through various channels, which has spawned criminal investigations and legal proceedings in Singapore, Switzerland, New Zealand, and US.

Acted for a state-owned trading company in investigations into a $125 million fraud perpetrated by officers and controllers of that company in relation to its oil trading activities, and represented the state-owned company in civil claims brought before the Singapore Courts and related criminal complaints.

*The representative cases above include matters which our lawyers worked on in other firms prior to Setia Law LLC.

Acted for a private equity fund with over $20 billion in capital under management in various enforcement proceedings for the recovery of over $220 million arising from distressed situations in China.

Acted in the enforcement of an ICSID award for over $370 million arising from expropriation of assets, against a South American state and its state owned entities.

Acted for special situations funds in enforcement actions against an Indonesian tycoon and his companies arising from default in a $200 million facility, with multiple proceedings in Singapore and Indonesia.

Acted in the enforcement of an ICSID award for $200 million arising from the expropriation of assets against an African state, and its state-owned entities.

Acted for MAN Diesel in the enforcement of an international commercial arbitration award arising from a dispute relating to the design and supply of marine diesel engines and propellers, a case that spawned a ground breaking judgment where certain legal issues relating to the enforcement of arbitral awards were engaged and determined for the first time by the Singapore High Court.

Acted in the enforcement of an award for over $70 million arising from fraud in the development of oil fields, against a Russian state-linked entity, that have spawned proceedings in Cyprus, the Netherlands, Singapore, US, and UK.

Acted for syndicated lenders in the enforcement actions against an Indonesian tycoon and his conglomerate arising from the default of a $150 million facility, which involved novel issues of Indonesian law.

*The representative cases above include matters which our lawyers worked on in other firms prior to Setia Law LLC.

Acted for DBS Trustee in the restructuring of the Eagle Hospitality REIT Group, a REIT listed on the Singapore Stock Exchange, involving US Chapter 11 proceedings in the US, and parallel proceedings in Singapore.

Acted for the liquidators of BSI Bank, which was alleged to have laundered funds purportedly belonging to Malaysian state-owned company, 1MDB, through various channels.

Advised the liquidators of Phoenix Pte Ltd in relation to the collapse of the Phoenix Commodities group, after amassing more than $400 million in losses, including recovery actions in multiple jurisdictions in Africa and South Asia.

Advising and acting for the liquidators of Torque Group, a major cryptocurrency investment e-platform, in investigations and claims relating to the misappropriation of cryptocurrencies valued at over $300 million.

Acted for the liquidators of Dynamic Oil Trading (Singapore) Pte Ltd in one of the most high-profile insolvencies in the shipping industry in Singapore in recent times, as part of the global collapse of the OW Bunker group.

Acted for the liquidators of MF Global Singapore, the most high-profile insolvency in the financial industry in Singapore since Lehman Brothers involving thousands of MF Global customers and efforts in recovering customers’ proprietary funds of over US$400 million in Singapore and other jurisdictions.

Acted for the liquidators of various Lehman Brothers Singapore entities, including in Nomura’s acquisition of Lehman’s franchises in Asia-Pacific following the collapse of Lehman Brothers in September 2008.

*The representative cases above include matters which our lawyers worked on in other firms prior to Setia Law LLC.