Ripple Markets APAC Pte. Ltd. v GEA Limited & 3 Ors

[2025] SGHC 193 High Court (General Division) 30 September 2025 • HC/OC 628/2024 ( HC/RA 91/2025 ) • 21 min read
5 cases cited (4 SG, 1 foreign)

Catchwords

Civil Procedure — Summary judgment

Practice Areas

Civil Procedure

Judges (1)

Valerie Thean Delivered

Counsel (9)

Allen & Gledhill LLP Firm Sreenivasan Chambers LLC Firm Jonathan Kenric Trachsel Counsel Respondent Mak Sushan, Melissa (Mai Sushan) Counsel Respondent Muralli Raja Rajaram Counsel Appellant Nikhil Satish Coomaraswamy Counsel Respondent Sathya Justin Narayanan Counsel Appellant Tan Kai Liang Counsel Respondent Wong Pei Yee Counsel Appellant

Parties (5)

GEA Limited Appellant Regal Planet Limited Appellant Ripple Markets APAC Pte Ltd Respondent Seamless Group Inc Appellant Alexander Kong King Ong Appellant

Case Significance

[2025] SGHC 193 is a High Court (General Division) decision dated 30 September 2025 concerning Civil Procedure, specifically addressing summary judgment. The judgment was delivered by Valerie Thean. The case was brought by GEA Limited and others (appellant) against Ripple Markets APAC Pte Ltd (respondent). Legal representation was provided by Sreenivasan Chambers LLC and Allen & Gledhill LLP. The judgment cites 5 cases (4 Singapore, 1 foreign) and references 1 statutory provision, namely the Hong Kong law by virtue of the Hong Kong Money Lenders Ordinance.

Summary

Ripple Markets obtained summary judgment against GEA Limited and guarantors for approximately US$2 million in unpaid invoices for digital asset (XRP) liquidity services. The court dismissed the defendants' appeal, rejecting defences of misrepresentation, economic duress, and lack of consideration for the guarantee, finding the claims were unsupported by evidence and contradicted by the defendants' own documentation.

What was decided in [2025] SGHC 193?

[2025] SGHC 193 (Ripple Markets APAC Pte. Ltd. v GEA Limited & 3 Ors) is a High Court (General Division) decision from 30 September 2025 addressing Civil Procedure, specifically summary judgment. The judgment was delivered by Valerie Thean.

Who were the parties in Ripple Markets APAC Pte. Ltd. v GEA Limited & 3 Ors?

The appellant in [2025] SGHC 193 was GEA Limited, Regal Planet Limited, and the respondent was Ripple Markets APAC Pte Ltd. Legal representation included Allen & Gledhill LLP and Sreenivasan Chambers LLC. The case was decided on 30 September 2025 in the High Court (General Division).

Which judge decided [2025] SGHC 193?

[2025] SGHC 193 was delivered by Valerie Thean in the High Court (General Division) on 30 September 2025. The case concerned Civil Procedure.

What cases and statutes does [2025] SGHC 193 cite?

[2025] SGHC 193 cites 5 prior decisions, including 1 from foreign jurisdictions. It references Hong Kong law by virtue of the Hong Kong Money Lenders Ordinance.

Statutes Cited

Hong Kong law by virtue of the Hong Kong Money Lenders Ordinance (Cap 163)

Cases Cited (5)

SLR (4)
[2007] 3 SLR(R) 537 [2015] 1 SLR 325 [2015] 1 SLR 396 [2024] 6 SLR 313
UK (1)
[2024] EWHC 156

Judgment

Read the full judgment on the official Singapore Courts portal.

Read on eLitigation

Source: eLitigation ([2025] SGHC 193)