DBX & Anor v DBZ

[2023] SGHC(I) 18 Singapore International Commercial Court 15 November 2023 SIC/OA 10/2023

28 cases cited (20 SG, 8 foreign) Cited by 6 cases

Outcome

Application dismissed

“The application is dismissed.”

Source: [2023] SGHC(I) 18, Singapore International Commercial Court, decided 15 November 2023. Read directly from the judgment.

Key facts

Court	Singapore International Commercial Court
Decided	15 November 2023
Judge	Roger Giles
Charges / claim	Arbitration
Outcome	Application dismissed
Counsel	A.Ang, Seah & Hoe, WongPartnership LLP, Ang Cheng Ann Alfonso, Chong Wan Yee Monica, Foo Hsien Weng, James Ch'ng Chin Leong, Leau Jun Li, Wong Chun Mun

Source: [2023] SGHC(I) 18, Singapore International Commercial Court, decided 15 November 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Arbitration — Award — Recourse against award — Setting aside

Practice Areas

Arbitration

Judges (1)

Roger Giles Delivered

Counsel (8)

A.Ang, Seah & Hoe Firm WongPartnership LLP Firm Ang Cheng Ann Alfonso Counsel for the applicant Chong Wan Yee Monica Counsel for the respondent Foo Hsien Weng Counsel for the respondent James Ch'ng Chin Leong Counsel for the applicant Leau Jun Li Counsel for the respondent

Wong Chun Mun Counsel for the respondent

Parties (3)

DBX Applicant

DBY Applicant

DBZ Respondent

Case Significance

DBX and another v DBZ [2023] SGHC(I) 18 is a judgment of the Singapore International Commercial Court by Roger Giles IJ, delivered on 15 November 2023 in Originating Application No 10 of 2023. It was an application to set aside the final awards in two Singapore-seated arbitrations, in which the first applicant was held liable to the respondent as principal debtor under a margin financing facility agreement for a sum just short of HKD 80m plus interest and costs, and the second applicant liable as guarantor for the same amount. The application was filed in the High Court on 19 June 2023 and transferred to the SICC on 7 August 2023, with the court file sealed and the parties anonymised. The decision cites 28 authorities (20 Singapore, 8 foreign).

What was DBX v DBZ [2023] SGHC(I) 18 about?

It was a Singapore International Commercial Court application before Roger Giles IJ to set aside the final awards in two Singapore-seated arbitrations concerning a margin financing facility, where the first applicant was held liable as principal debtor and the second as guarantor.

How much were the applicants held liable for in the arbitrations behind DBX v DBZ ([2023] SGHC(I) 18)?

The first applicant was held liable to the respondent as principal debtor under a margin financing facility agreement for a sum just short of HKD 80m, plus interest and costs, and the second applicant was liable as guarantor for the same amount, per [2023] SGHC(I) 18.

Statutes Cited

Arbitration Act (Cap 10) Cases on this Act →

International Arbitration Act (Cap 143A) Cases on this Act →

s 3

RCo carried on a business in a regulated activity as referred to in the Securities and Futures Ordinance (Cap 571)

Cases Cited (28)

SG (2)

[2019] SGHC 260 [2023] SGCA(I) 4

SLR (18)

[2003] 3 SLR(R) 546 [2007] 1 SLR(R) 597 [2008] 2 SLR(R) 491 [2010] 3 SLR 1 [2011] 4 SLR 739 [2014] 1 SLR 130 [2014] 1 SLR 814 [2016] 1 SLR 966 [2016] 4 SLR 1336 [2017] 2 SLR 362 [2018] 2 SLR 1207 [2019] 2 SLR 295 [2019] 4 SLR 390 [2020] 5 SLR 266 [2021] 1 SLR 390 [2021] 3 SLR 22 [2022] 1 SLR 1080 [2022] 5 SLR 393

UK (6)

[1920] 2 KB 287 [1934] 2 KB 394 [1985] Ch 261 [1986] 2 WLR 1003 [1991] 1 QB 785 [2019] 1 All ER 161

HK (2)

[2016] 1 HKC 323 [2018] HKCFI 2342