TAMAR PERRY & Anor v JACQUES HENRI GEORGES ESCULIER & Anor

[2023] SGCA(I) 2 Court of Appeal (International) 2 March 2023 CA/CAS 7/2022

4 cases cited Cited by 1 case

Key facts

Court	Court of Appeal (International)
Decided	2 March 2023
Judges	Beverley McLachlin, Judith Prakash, Steven Chong
Charges / claim	Conflict of Laws, Trusts
Counsel	Colin Liew LLC, Legal Clinic LLC, Premier Law LLC, Colin Liew, Kam Su Cheun Aurill, Koh Kuan Hong John Paul, Lim Rui Hsien Esther, Paul Chaisty, Yee Mun Howe Gerald

Source: [2023] SGCA(I) 2, Court of Appeal (International), decided 2 March 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Conflict of Laws — Choice of law — Equity Conflict of Laws — Choice of law — Property Trusts — Recipient liability — Proprietary liability

Practice Areas

Conflict of Laws Trusts

Judges (3)

Beverley McLachlin Coram Judith Prakash Coram Steven Chong Delivered

Counsel (9)

Colin Liew LLC Firm Legal Clinic LLC Firm Premier Law LLC Firm Colin Liew Counsel for the respondent Kam Su Cheun Aurill Counsel for the respondent

Koh Kuan Hong John Paul Counsel for the appellant

Lim Rui Hsien Esther Counsel for the respondent

Paul Chaisty Counsel for the appellant

Yee Mun Howe Gerald Counsel for the appellant

Parties (4)

Solid Fund Private Foundation Appellant

Bonnet Esculier Servane Michele Thais Respondent

Jacques Henri Georges Esculier Respondent

Tamar Perry Appellant

Case Significance

Perry, Tamar and another v Esculier, Jacques Henri Georges and another [2023] SGCA(I) 2 is a decision of the Court of Appeal on a civil appeal (CA/CAS 7/2022) from the Singapore International Commercial Court (SIC/S 4/2020), with Steven Chong JCA delivering the grounds of decision of the court, sitting with Judith Prakash JCA and Beverley McLachlin IJ, dated 2 March 2023. The appellants were Tamar Perry and Solid Fund Private Foundation, and the respondents were Jacques Henri Georges Esculier and Bonnet Esculier Servane Michele Thais. The court noted that both parties were unsuspecting victims of a Ponzi scheme, but the respondents exited their investment at a fortuitous time and realised profits, with money used to pay them appearing to derive from funds transferred by the appellants. The appeal raised questions of choice of law in equity and property and of recipient and proprietary liability in trusts.

What did Perry v Esculier [2023] SGCA(I) 2 concern?

The Court of Appeal appeal (CA/CAS 7/2022) from the Singapore International Commercial Court arose from a Ponzi scheme in which appellants Tamar Perry and Solid Fund Private Foundation, and respondents Jacques and Servane Esculier, were victims. It raised choice-of-law and trust recipient-liability issues.

Who decided Perry v Esculier [2023] SGCA(I) 2?

The Court of Appeal decided the case on 2 March 2023, with Steven Chong JCA delivering the grounds of decision of the court, sitting alongside Judith Prakash JCA and Beverley McLachlin IJ, on an appeal from the Singapore International Commercial Court.