TERRAFORM LABS PTE. LTD.

[2025] SGHC(I) 4 Singapore International Commercial Court 21 February 2025 • SIC/OA 5/2024 ( SIC/SUM 57/2024 ) • 32 min read

5 cases cited Cited by 1 case

Catchwords

Insolvency Law — Cross-border insolvency

Practice Areas

Insolvency Law

Judges (1)

James Michael Peck Delivered

Counsel (15)

Allen & Gledhill LLP Firm Drew & Napier LLC Firm Kirkland & Ellis LLP Firm WongPartnership LLP Firm Casey McGushin Counsel Third Party Chris Koenig Counsel Third Party Elizabeth Jones Counsel Third Party Felicia Soong Wanyi Counsel Applicant Fong Shi-Ting, Fay Counsel Third Party Michael Williams Counsel Third Party Rajan Menon Smitha Counsel Applicant Samuel Navindran Counsel Applicant Samuel Soo Kuok Heng Counsel Third Party Tan Chee Meng Counsel Applicant Yong Wei Jun Jonathan Counsel Third Party

Parties (1)

Terraform Labs Pte Ltd Applicant

Summary

Terraform Labs sought recognition in Singapore of its confirmed Chapter 11 plan of liquidation and related Bankruptcy Court orders under the UNCITRAL Model Law on Cross-Border Insolvency. The SICC granted the reliefs, recognising the plan and confirmation order, authorising TFL to administer its Singapore assets in accordance with the plan, and imposing a moratorium on claims that had been compromised under the plan, rejecting a last-minute adjournment request from certain non-parties.