DAO web3.0 blockchain-based (Decentralised / Digital Autonomous Organisations) legal structures and considerations under Singapore law
Case: [2022] SGHCR 7 – procedural considerations regarding starting a suit against estate
Maybank Singapore Limited v Personal representatives of the estate of Khoo Gek Hwa Christina, deceased [2022] SGHCR 7
Significance: The Assistant Registrar set out practical guidance on the procedure for starting a suit against a deceased’s estate at [98]:
Overview of Crypto, Digital Tokens, Virtual Assets Laws & Regulations in Singapore (June 2022)
Case: Singapore High Court on what constitutes confidential information protectable post-employment
Significance
In Asia Petworld Pte Ltd v Sivabalan s/o Ramasami [2022] SGHC 128, the General Division of the Singapore High Court (Philip Jeyaretnam J) analysed certain categories of information to determine if they were subject to implied general confidentiality obligations post-employment. The Court affirmed a key principle that the knowledge and experience that an employee acquires during his employment is not protectable confidential information post-employment.
Tax treatment of payment of salary or business goods or services in cryptocurrency
Should an employee accept payment of her salary in cryptocurrency or digital tokens? Should a business accept digital payment tokens as payment for goods or services? What are the tax implications? What is the best way to structure such payments?
Case: Court’s comments on contractual discretion and implied term of mutual trust and confidence
Significant comments by the Appellate Division of the Singapore High Court.
In Dong Wei v Shell Eastern Trading (Pte) Ltd [2022] SGHC(A) 8, the Court in obiter dicta considered and said that:
a. although it has been held that an employer’s exercise of a contractual discretion is subject to requirements of rationality, good faith and consistency with the contractual purpose (Leiman, Ricardo and another v Noble Resources Ltd and another [2018] SGHC 166 at [112]-[114]; Braganza v BP Shipping Ltd and another [2015] 1 WLR 1661);
b. such a fetter on contractual discretion should not extend to the contractual right to terminate with notice (at [88]);
c. further, this fetter would cut both ways and also limit an employee’s right to terminate with notice (at [92]);
d. the existence of an implied term of mutual trust and confidence in employment contracts under Singapore law is not yet settled (The One Suites Pte Ltd v Pacific Motor Credit (Pte) Ltd [2015] 3 SLR 695 (CA) at [44]);
e. the High Court of Australia in Commonwealth Bank of Australia v Barker (2014) 312 ALR 356 had firmly rejected this in Australian law. The Court’s reasoning there would be cogent in the Singapore law context too.
#singaporelaw #law #employmentlaw #litigation #contractlaw
Environmental, Social & Governance (ESG) regulatory advice and consultancy
What is ESG?
ESG stands for environmental, social and governance.
Increasing investor, consumer and stakeholder concerns about climate change, sustainability, corporate governance, social justice and human rights have driven ESG consciousness. There have thus been international and national shifts and regulations to require businesses to proactively and transparently address ESG issues.
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Case: POA Recovery v Yau Kwok Seng [2022] SGHC(A) 2 – Special Purpose Vehicle assigned claims has locus standi
Significant decision by the Appellate Division of the High Court of Singapore: POA Recovery v Yau Kwok Seng [2022] SGHC(A) 2
The Court held that a special purpose vehicle (SPV) who was assigned the claims of various investors who alleged fraud has locus standi to pursue the claims.
Koh Chew Chee v Liu Shu Ming [2022] SGHC 25
Notable case: Koh Chew Chee v Liu Shu Ming [2022] SGHC 25
Lee Sieu Kin J granted the claimant damages for breach of contract on the reliance measure even though she submitted only on the expectation measure (for which the evidence adduced did not properly address).
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Law, at its very foundation, is conceived and derived from values.
“Law, at its very foundation, is conceived and derived from values.”
In this speech by Chief Justice James Allsop of the Federal Court of Australia titled “Values in law: how they influence and shape rules and the application of law”, he makes the case that law is fundamentally based on human values.
One aspect of that is to control human power.
Continue reading “Law, at its very foundation, is conceived and derived from values.”