SMU Law Academy Webinar: Obtaining Mareva Injunctions in Singapore, Hong Kong and the BVI in support of Foreign Proceedings

In international disputes, it is common for opposing parties to have assets situated all around the globe. Consider a situation where a PRC client would like to commence suit against an Indonesian counterparty with assets around the globe, including in Singapore, Hong Kong and the BVI. Prior to commencing action against the counterparty, it is typical to consider upfront an enforcement strategy against the counterparty’s assets. To preserve the status quo pending judgment, national courts have from time to time granted Mareva injunctions to prevent a defendant from dissipating his assets during the pendency of an action. This seeks to ensure that, if a plaintiff obtains favourable judgment, the plaintiff will be able to enforce the judgment against the assets of the defendant, and not be left with a paper judgment.

However, an issue that a plaintiff may face is that neither a court judgment nor a Mareva injunction may automatically bind third parties located in another jurisdiction where the defendant’s assets are situated. In this webinar, participants will learn to what extent practitioners can obtain effective Mareva relief from the Singapore, Hong Kong and BVI courts in support of foreign proceedings. Panelists will compare between arbitration and court proceedings, and consider alternative methods for freezing assets. In doing so, participants can better understand the strategy to be pursued in order to maximise the chances of successful recovery against assets located in various jurisdictions.

This event is worth 2 CPD points, to sign up please follow the registration link or click here.