Updates / Insights

An array of commentary, opinion and experience from our experts.

Insights

Singapore Court of Appeal Upholds Worldwide Freezing Order obtained by Novo Nordisk A/S and Clarifies the Law Relating to such Orders

In a judgment delivered on 14 May 2026, the Singapore Court of Appeal (coram comprising Judith Prakash SJ and Lady Mary Arden IJ) dismissed the appeal of KBP Biosciences Pte Ltd and its founder Dr Huang Zhenhua against an earlier worldwide freezing injunction order made by Philip Jeyaretnam J in the Singapore International Commercial Court.

18 May 2026

Insights

Singapore after FATF 2026: A Strong System Enters Its Harder Phase

The 2026 FATF Mutual Evaluation Report on Singapore is more than a strong scorecard for a well-regarded financial centre. It is a signal of where regulatory and enforcement expectations are moving next: from capacity to focus, from coordination to prioritisation, and from formal compliance to demonstrable impact. This article examines what the report means for banks, financial institutions, professional advisers and regional legal teams — particularly in relation to complex cross-border financial crime, beneficial ownership transparency, professional facilitators, sanctions and the growing expectation that Singapore deploy its considerable AML/CFT capabilities more selectively and decisively.

06 May 2026

Insights

All that glitters may now be silver – the Interpol’s game-changing Silver Notice

Into depths of international finance, Interpol has cast a new light—the Silver Notice, intended as a beacon against the dark undercurrents of organised crime. This new beacon is trained, however, not at the man, but at his wallet.

04 February 2025

Insights

Litigation decisions in contentious R&I proceedings: The balance between managing risks and protecting creditors

In Nature One Dairy (Australia) Pte Ltd v Bicheno Investments Pty Ltd [2024] SGCA 44, the Singapore Court of Appeal emphasised the need for directors and shareholders to be prudent in any steps they cause the company to take in contentious restructuring and insolvency proceedings, and that directors who pursue unnecessary litigation may face personal liability for costs incurred by or awarded against the company. 

12 November 2024

Insights

Early dismissal under Rule 29 of the SIAC Rules: when is it a breach of natural justice for an arbitral tribunal to dismiss a party’s case without a full evidentiary hearing?

Early Dismissal in Arbitration: DBO and others v DBP and others [2024] SGCA(I) 4

24 July 2024

Insights

In re Fullerton Capital – Singapore court recognises BVI liquidation amid disputed COMI

In Re Fullerton Capital Limited (in liquidation) [2024] SGHC 155, the High Court of Singapore recognized the BVI liquidation of Fullerton Capital (FCL) as foreign main proceedings pursuant to the UNCITRAL Model Law on Cross-Border Insolvency.

24 July 2024

Insights

Singapore Court of Appeal holds that foreign liquidation proceedings involving solvent companies are within the scope of Singapore’s adaptation of the UNCITRAL Model Law on Cross-Border Insolvency

In June 2023, Setia Law’s Bethel Chan and Lee Jin Loong published an article discussing the Singapore Court’s treatment of foreign solvent liquidations under the UNCITRAL Model Law on Cross-border Insolvency (the “Model Law”) in Re Ascentra Holdings, Inc [2023] SGHC 82 (“Re Ascentra (HC)”). The Singapore High Court had held that the voluntary liquidation of a solvent company, Ascentra Holdings, Inc under the Cayman Islands Companies Act (2021 Revision) was not entitled to recognition as a “foreign main proceeding” under Article 2(f) of the Third Schedule to the Insolvency, Restructuring and Dissolution Act 2018, which is Singapore’s enactment of the Model Law (the “SG Model Law”). At the time of the article, the decision was under appeal.

14 November 2023

Insights

The case of the missing diamonds and diamond seeds

In a twin-judgment released by Justice Hri Kumar Nair, the Setia Team comprising Yam Wern-Jhien (Director), Bethel Chan (Associate Director) and Stanley Tan (Associate) successfully secured judgment against an ex-director for misappropriation of diamonds and diamond seeds, as well as a rare order expunging irrelevant, unreliable, and scandalous material adduced by the Defendant in an attempt to tarnish the reputation of the Claimant and its representatives.  

24 September 2023

Insights

Metaverse Disputes – Navigating Jurisdictional Issues in the Metaverse

The Metaverse involves a confluence of cutting-edge technologies and is touted to become as revolutionary as the Internet when it was first brought into the mainstream. With a projected 25% of the global population spending at least an hour a day in the Metaverse and the size of the Metaverse market expecting to reach USD 758 billion by 2026, fraud in the Metaverse is inevitable. In this article, Danny Ong, Jason Teo, and Stanley Tan of Setia Law LLC consider some of the jurisdictional issues that could arise in the Metaverse which victims of fraud are likely to grapple with when seeking relief.

22 July 2023

Insights

Key takeaways from the ABS’ industry perspective on best practices recommendations on compliance risks with a nexus to digital assets

The Association of Banks in Singapore (ABS) has this month, in collaboration with the MAS, the CAD and Ernst & Young, released a set of ‘best practices’ recommendations from the industry perspective, to help financial institutions (FIs) approach money-laundering (ML), terrorism financing (TF) and sanctions risks in the digital assets space. We summarise the key takeaways for FIs.

22 July 2023

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