PARASTATE LABS, INC. v WANG LI

[2023] SGCA 27 Court of Appeal 25 September 2023 CA/CA 16/2023 19 min read

9 cases cited (8 SG, 1 foreign) Cited by 1 case

Outcome

Appeal allowed

we allowed the appeal and ordered that the injunction granted shall cover assets of up to US$5 million and that Parastate shall provide additional fortification so that the total amount available shall be US$100,000. We also ordered that Mr Wang pay Parastate’s costs fixed at $15,000 (inclusive of disbursements).

Source: [2023] SGCA 27, Court of Appeal, decided 25 September 2023. Read directly from the judgment.

Key facts

Court	Court of Appeal
Decided	25 September 2023
Judges	Judith Prakash, Steven Chong
Charges / claim	Civil Procedure
Outcome	Appeal allowed
Sentence / award	$5 million
Counsel	FC Legal Asia LLC, Remy Choo Chambers LLC, Chew Di Shun, Dickson, Choo Zheng Xi, Chu Hua Yi, Foo Maw Shen, Tan Jinwen, Mark, Yuen Ai Zhen Carol

Source: [2023] SGCA 27, Court of Appeal, decided 25 September 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Civil Procedure — Mareva injunctions — Quantum of Mareva injunction

Practice Areas

Civil Procedure

Judges (2)

Judith Prakash Coram Steven Chong Delivered

Counsel (8)

FC Legal Asia LLC Firm Remy Choo Chambers LLC Firm Chew Di Shun, Dickson Counsel Respondent Choo Zheng Xi Counsel Respondent Chu Hua Yi Counsel Appellant Foo Maw Shen Counsel Appellant Tan Jinwen, Mark Counsel Appellant Yuen Ai Zhen Carol Counsel Respondent

Parties (5)

Babel Asia Asset Management Pte Ltd Defendant Babel Holding Ltd Defendant Parastate Labs Inc Appellant Wang Li Respondent Yang Zhou Defendant

Case Significance

Parastate Labs Inc v Wang Li [2023] SGCA 27 is a grounds of decision of the Court of Appeal, delivered on 25 September 2023 in Civil Appeal No 16 of 2023, arising from Originating Claim No 130 of 2022 (Summons No 2564 of 2022). Judith Prakash JCA and Steven Chong JCA sat, with Steven Chong JCA delivering the grounds of decision of the court. The appeal concerned the quantum of a Mareva injunction obtained by Parastate Labs Inc against Wang Li and other defendants, including Yang Zhou, Babel Asia Asset Management Pte Ltd and Babel Holding Ltd, addressing the principles governing the good arguable case and real risk of dissipation thresholds for such freezing relief.

[2023] SGCA 27 explained

PARASTATE LABS, INC. v WANG LI ([2023] SGCA 27) is a Singapore judgment decided by the Court of Appeal on 25 September 2023. It is categorised under Civil Procedure. Within this corpus it has since been cited by 1 other reported Singapore judgment, a measure of how often later decisions have referred to it. This page summarises what the reported decision covers and links the primary sources — the full judgment, the statutes it cites, and the other cases it engages with — so the decision can be read in context. It is reference information, not legal advice, and it does not state the outcome or any holding beyond what the official judgment records.

What is [2023] SGCA 27 about?

PARASTATE LABS, INC. v WANG LI ([2023] SGCA 27) is a Court of Appeal decision from 2023. Its published catchwords are “Civil Procedure — Mareva injunctions — Quantum of Mareva injunction”, which indicate the subject matter the judgment addresses. The full reasoning and orders are in the judgment itself, linked below.

What earlier Singapore cases does [2023] SGCA 27 cite?

Among the in-corpus authorities it refers to are [2023] SGHC 153. The complete list of cases cited, and of later cases that cite this decision, is shown on this page.

How influential is [2023] SGCA 27?

Within this corpus, [2023] SGCA 27 has been cited by 1 later reported Singapore judgment. That count reflects references from other decisions held in this corpus only and is a conservative lower bound on how often the case has actually been cited.

What was Parastate Labs Inc v Wang Li [2023] SGCA 27 about?

It was a Court of Appeal decision delivered on 25 September 2023 before Judith Prakash JCA and Steven Chong JCA concerning the quantum of a Mareva injunction obtained by Parastate Labs Inc against Wang Li and other defendants.

What issue did [2023] SGCA 27 focus on?

The appeal focused on the appropriate quantum of a Mareva injunction, a freezing order requiring a good arguable case and a real risk of dissipation of assets, in Originating Claim No 130 of 2022 against defendants including Babel Asia Asset Management Pte Ltd.