Singapore Law Watch publishes Nawaz Kamil and Danny Quah’s case update on AnAn v VTB Bank, where a 5-bench Court of Appeal has decisively halted the growing abuse of the winding-up regime by creditors who file winding up proceedings to strong-arm debtors into settling disputed debts in a bid to avoid expensive arbitration proceedings.

This decision provides timely clarification that the court will adopt a prima facie standard of review instead of the higher “triable issue” threshold so as to hold parties to their contractual bargain in choosing arbitration as their mode of dispute resolution.

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Overdue Outstanding Transaction Unpaid Paying Concept

 

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