BIDZINA IVANISHVILI & 4 Ors v CREDIT SUISSE TRUST LIMITED

[2023] SGHC(I) 19 Singapore International Commercial Court 2 November 2023 SIC/S 4/2021 ( SIC/SUM 33/2023 )

5 cases cited Cited by 1 case

Key facts

Court	Singapore International Commercial Court
Decided	2 November 2023
Judge	Patricia Bergin
Charges / claim	Civil Procedure
Counsel	Allen & Gledhill LLP, Drew & Napier LLC, Rajah & Tann Singapore LLP, Cavinder Bull, Disa Sim, Gerald Paul Seah Yong Sing, Kelly Tseng Ai Lin, Kenneth Lim Tao Chung, Lee Eng Beng, Liang Fang Ling Elisabeth, Tan Yuan Kheng, Wong Pei Ting, Yeow Yuet Cheong

Source: [2023] SGHC(I) 19, Singapore International Commercial Court, decided 2 November 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Civil Procedure — Stay of execution of judgment pending appeal

Practice Areas

Civil Procedure

Judges (1)

Patricia Bergin Delivered

Counsel (13)

Allen & Gledhill LLP Firm Drew & Napier LLC Firm Rajah & Tann Singapore LLP Firm Cavinder Bull Counsel for the plaintiff Disa Sim Counsel for the defendant Gerald Paul Seah Yong Sing Counsel for the plaintiff Kelly Tseng Ai Lin Counsel for the plaintiff Kenneth Lim Tao Chung Counsel for the defendant Lee Eng Beng Counsel for the defendant Liang Fang Ling Elisabeth Counsel for the plaintiff Tan Yuan Kheng Counsel for the plaintiff Wong Pei Ting Counsel for the defendant Yeow Yuet Cheong Counsel for the defendant

Parties (6)

Credit Suisse Trust Limited Defendant Bera Ivanishvili Plaintiff Bidzina Ivanishvili Plaintiff Ekaterine Khvedelidze Plaintiff Gvantsa Ivanishvili Plaintiff Tsotne Ivanishvili Plaintiff

Case Significance

Ivanishvili, Bidzina and others v Credit Suisse Trust Ltd [2023] SGHC(I) 19 is an oral judgment of Patricia Bergin IJ in the Singapore International Commercial Court, delivered on 2 November 2023 in Suit No 4 of 2021 (Summons No 33 of 2023). The defendant, Credit Suisse Trust Limited, applied for a stay of execution pending appeal of the court's Merits Judgment of 26 May 2023 ([2023] SGHC(I) 9) and Quantum Judgment of 19 September 2023 ([2023] SGHC(I) 14), under which it had been ordered to pay US$742.73m plus interest and the plaintiffs' costs of S$7,298,893.43 plus interest. The defendant had filed an appeal understood to be heard around the first week of April 2024, and the judgment concerns the stay of execution of a judgment pending appeal, both the Court of Appeal and the SICC having concurrent jurisdiction to hear such applications.

What was Ivanishvili v Credit Suisse Trust [2023] SGHC(I) 19 about?

It was an application by Credit Suisse Trust Limited before Patricia Bergin IJ in the Singapore International Commercial Court for a stay of execution pending appeal of judgments ordering it to pay US$742.73m plus interest, decided on 2 November 2023.

How much had Credit Suisse Trust been ordered to pay in the underlying judgments ([2023] SGHC(I) 19)?

Under the Merits Judgment of 26 May 2023 and the Quantum Judgment of 19 September 2023, the defendant was ordered to pay US$742.73m plus interest and the plaintiffs' costs of S$7,298,893.43 plus interest.