Recent High Court litigation win for Clasis LLC
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Market Insight 07 March 2024 07 March 2024
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Asia Pacific
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Economic risk
A team from Clasis LLC comprising Junxiang Koh and Pi Wei Ng acted for the successful Plaintiff in Riady Tjandra v Cheng Yi Han [2024] SGHC 59 (“the Judgment”), securing judgment of US$500,000 and legal costs from the Defendant.
The dispute concerned an agreement for our client to purchase shares in a company which ostensibly owned a cryptocurrency-friendly offshore private bank. The purchase consideration was over US$4 million. The purchase consideration was duly paid and the Defendant personally received the sum of US$1.36 million. Despite this however, the Plaintiff did not receive the shares. After taking into account certain partial repayments made by the Defendant, the Plaintiff sued for the remaining sum of US$500,000 in breach of contract and unjust enrichment.
In a 78-page Judgment, the Honourable Judge found that the Plaintiff’s causes of action in breach of contract and unjust enrichment to be made out and granted judgment in the Plaintiff’s favour.
The Judgment was the culmination of a long-running litigation that started in 2021 and Clasis LLC is pleased to have successfully represented the Plaintiff.
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