Dispute Resolution

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 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.

Acted for Doctor Anywhere Pte Ltd, a leading telemedicine operator in Southeast Asia, in an M&A dispute arising from the acquisition of a Third Party Administration services provider.

Acted for various Indonesian parties in defending a $12 billion SIAC arbitration claim relating to natural resources projects in Indonesia, including one of the largest mines in Indonesia.

Acted for Eli Lilly Group, one of the largest global pharmaceutical groups listed on the NYSE, in a contractual dispute with the Tempo Group of Indonesia, listed on the Jakarta Stock Exchange, including successfully obtaining an anti-suit injunction from the Singapore Courts restraining PT Tempo Scan from continuing a claim brought by it before the Indonesian Courts against Eli Lilly.

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 law, and has spawned parallel proceedings in the BVI and China.

Represented companies owned or controlled by Yves Bouvier in relation to a US$1 billion dispute with Dmitry Ryblolovlev and companies associated with him arising from the sale of valuable art, and successfully procured the setting aside of freezing orders against these companies.

Acted for Suntech Singapore in defending a $200 million claim by the liquidators of Power Solar Co Ltd, following the collapse of the Suntech Group.

Acted for GSF Capital in defending a EUR500 million claim by Suntech Power Holdings in relation to an alleged fraudulent bond issuance, involving proceedings in Singapore, England, Italy, and China.

Acted for a director of a property investment company in defending a $250 million claim for alleged breach of fiduciary duties and trust in respect of a project in China.

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

Acted for syndicated lenders in a claim against an Indonesian tycoon and his companies for the recovery of facilities granted of over $140 million to an Indonesian conglomerate and enforcement of security onshore in Indonesia, which involved proceedings in Singapore and Indonesia.

Acted for WorldQuant (Singapore), one of the largest quantitative trading firms globally, in prosecuting a claim for alleged misappropriation of proprietary quantitative trading systems and algorithms.

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 some of the largest brokerages in the region including Maybank Kim Eng, UOB Kay Hian, KGI Securities and Phillip Securities in –claims before the Singapore Courts arising from trading in equities, commodities, and foreign currencies, and in market manipulation and market rigging cases.

Acting for Bank Jtrust (formerly Bank Century Indonesia) and Jtrust Co Ltd in defending claims brought by a distressed debt investor arising from English-law governed bonds issued prior to the collapse of Bank Century Indonesia. The matter involved parallel proceedings in New York, Mauritius, and Japan.

Acted for GSF Capital in defending a EUR500 million claim by Suntech Power Holdings in relation to an alleged fraudulent bond issuance, involving proceedings in Singapore, England, Italy, and China.

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 $400 million in Singapore and other jurisdictions, including in landmark proceedings before the Singapore Courts for the sanction of interim distribution of over $350 million of customers’ funds, and for the determination of complex issues relating to the treatment of customers’ claims for profits arising from leveraged foreign exchange and bullion transactions under Singapore’s regulatory framework.

Acted for Lehman Brothers Singapore Pte Ltd in the defence of an action by individual investors alleging misrepresentations in the prospectus for the $10 billion notes programme issued by Minibond Limited.

Acted for a high-net-worth individual in a $200 million claim against a global private bank for losses arising from complex derivative transactions.

Acted for global financial institutions in investigating into alleged schemes to manipulate SIBOR interest rates and non-deliverable forward (NDF) rates, as part of a global investigations into such schemes across the major international financial markets, as well as investigations related to contingent convertible bonds (CoCos), and represented them in related claims.

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

Acted for B2C2 Ltd, one of the world’s largest market maker in digital currencies, in proceedings before the Singapore International Commercial Court in a dispute 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 ST Microelectronics 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 South-East Asia, involving parallel proceedings in Singapore and Indonesia.

Successfully secured worldwide freezing orders against cryptocurrency assets of Torque Group’s Chief Technology Officer, and acting for the liquidators of Torque Group, a cryptocurrency investment platform which was put into liquidation in March 2021 following the loss and misappropriation of over $300 million in cryptocurrency assets. Successfully secured orders recognizing main BVI liquidation proceedings in Singapore and disclosure orders against former company officers and cryptocurrency exchanges, including Binance, to aid on-going investigations and claims.

Acted in the $65 million Singapore suit relating to the cryptocurrency crash from Terraform Labs, arising from a representative action brought by over 300 claimants.

Successfully represented a blockchain and cryptocurrency advisory company in a dispute relating to the design and development of a blockchain-based marketplace for non-fungible-tokens (NFTs) and digital collectibles. This is the first successful application for a proprietary injunction in relation to cryptocurrency assets in the Singapore High Court.

Successfully acted for Nokia Pte Ltd in a dispute with a integrated systems vendor relating to a contract for the provision of call-routing and call centre systems.

Advised and acted for a major Japanese e-commerce and digital content provider in a dispute with an Israeli software developer relating to the development of a digital content streaming application.

Advised and acted for a global tech company in a dispute with a prominent e-commerce operator in relation to a contract for the supply of digital marketing services.

Acted for an automated crane systems designer and manufacturer in a dispute relating to the design, supply and installation of an automated travelling crane systems for the construction of a state-of-the-art rooftop container depot.

Acted for a prominent tech investor in a shareholders’ dispute relating to an investment in a start-up software development company that was developing an AI-based visual recognition software.

Acted for a prominent e-commerce merchant in a series of asset recovery actions arising from sophisticated digital payment processing fraud, in coordination with international counsel from multiple jurisdictions. Successfully argued and secured a number of applications for freezing injunctions and disclosure orders in aid of investigation and recovery efforts.

Acted for a prominent cryptocurrency investor in a dispute arising from the acquisition of a cryptocurrency exchange in South Korea.

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