Client Update Should Crypto Assets be Classified as a Form of Property The question whether crypto assets should be classified as property has been conclusively answered by the Singapore High Court decision in ByBit Fintech Ltd v Ho Kai Xin and others [2023] SGHC 199. Until this decision, the courts in Singapore had considered the question on a level which only required them to find that it was seriously arguable that crypto assets are property. JULY 2023 Client Update Singapore-Indonesia Extradition Treaty On 13 January 2023, a new extradition treaty signed in February 2022 between Singapore and Indonesia (“Treaty”) came into force. The Treaty is aimed at helping Indonesian authorities in their effort to reach fugitives involved in a broad range of cross-border crime. The text of the Treaty has been made public since its ratification. We have summarised the features and effects of the Treaty in our Client Update JANUARY 2023 Client Update Additional Buyer’s Stamp Duty for Residential Properties Transferred to a Living Trust On 8 May 2022, the Government announced that Additional Buyer’s Stamp Duty (“ABSD (Trust)”) of 35% will apply to any transfer of residential property into a living trust (being a trust that is created by a person during his or her lifetime) with effect from 9 May 2022. MAY 2022 Client Update Resource Sustainability Act The Resource Sustainability Act (“RSA”) partially came into force on 1 January 2020 and the remaining sections of the RSA will come into force in stages. The RSA is intended to further Singapore’s strategy to increase its sustainability, resource efficiency and climate resilience as a nation. In this update, we provide a summary of the requirements of the RSA and additional responsibilities to be undertaken by various parties going forward in order to better manage food waste, packaging waste (Read More) JULY 2021 Client Update The Test for Insolvency – When is a company unable to pay its debts? Directors are often required to make solvency statements. The Singapore Court of Appeal recently clarified the applicable test for when a company is “unable to pay its debts”. This has implications on the making of solvency statements as doing so without having reasonable grounds is an offence under the Companies Act. Our update elaborates on the test and its significance (Read More). JUNE 2021 Client Update NOM Clause: Rescission, Estoppel and Legal Effect Our clients’ prevailed at the trial and on appeal to establish an oral rescission of a written agreement. In the process, interesting observations on the legal effect of a no oral modification clause (“NOM Clause”) were made by our appellate court of five judges. We distil this for you and include our take as well (Read More). MAY 2021 Client Update ACRA Seeks Feedback on Proposed Amendments to Companies Act The Accounting and Corporate Regulatory Authority (“ACRA”) is conducting a public consultation from 20 July 2020 to 17 August 2020 to seek feedback on proposed amendments to the Companies Act. The proposed amendments are aimed primarily at ensuring that Singapore’s corporate regulatory regime stays competitive (Read More). JULY 2020 Client Update Amendments to the COVID-19 (Temporary Measures) Act 2020 As of 20 June 2020, the majority of the provisions in the Amendment Act have come into force. In this update, we provide a summary of the various components of the rental relief framework for SMEs which may be applicable to you as either a Landlord or an SME tenant (Read More). JUNE 2020 Client Update SPA Considerations – In the New Normal Given the fluidity and unpredictability of the Covid-19 pandemic, parties will have to constantly re-examine their approach to every SPA and M&A transaction. This commentary seeks to identify some issues that are likely to be re-looked and reconsidered, in what may be a new normal for SPAs that are negotiated in the Covid-19 era (Read More). JUNE 2020 Q&A Care Arrangements for Children Our enhanced skills as mediators [IMI and SIMI Certified, Family Panel Singapore Mediation Centre], court-appointed child representative and parenting coordinator enable us to focus on the best interests of children. This Q&A provides brief answers to some common questions on care arrangements for children (Read More). MAY 2020 Q&A My marriage is at an end – How do I dissolve it in Singapore? With various dispute resolution capabilities in mediation, collaborative family practice and court craft, we specialise in working with our clients through difficult times. This Q&A provides brief answers to some common questions on divorce (Read More). MAY 2020 Q&A Preparing Your Will In this Q&A, we hope to provide you with brief answers to some common questions that you may have on this topic. This is particularly in light of the risks to health and well-being that the COVID-19 pandemic has brought about, which has caused many to take stock of their succession planning and how they intend to distribute their assets after they pass on (Read More). MAY 2020 Client Update COVID-19 Relief and Support for Small and Medium Enterprises (SMEs) The COVID-19 pandemic has adversely impacted local business and SMEs. The Singapore Government has unveiled various initiatives and measures and this update seeks to summarise the key initiatives and measures currently in place to support SMEs (Read More). APRIL 2020 Client Update COVID-19 Workplace Measures On 7 April 2020, Parliament passed the COVID-19 (Temporary Measures) Act 2020 (the “Act”). This client update is a follow-on of our previous client update with additional information in relation to when the provisions in the Act came into force and on the procedural regulations that in relation to the relief measures relating to the inability (Read More). APRIL 2020 Client Update COVID-19 (Temporary Measures) Act 2020 On 21 April 2020, it was announced that the Circuit Breaker period will extend to 1 June 2020 (inclusive) (the “Circuit Breaker Extended Period”). The Ministry of Trade and Industry (“MTI”) issued a press release statement on the tightened measures targeting two main areas during the Circuit Breaker Extended Period (Read More). APRIL 2020
