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HC/OA 318/2022

HC/SUM 448/2023 (“SUM 448”)

HC/SUM 475/2023 (“SUM 475”)

As you know, the hearing for the Honourable Court to deliver its judgment in SUM 448 and SUM 475 took place on 27 March 2023 before the Honourable Justice Aedit Abdullah over a Zoom webinar. Aside from our legal advisors, Rev Law LLC attended on behalf of the 5th to 9th non-parties (who are creditors of Defi Payments Pte Ltd). We understand that there were also a number of other individuals in attendance.

The Court made an order for the moratorium to be extended up until 28 April 2023 or until any other Court order. The Court did not dismiss the 5th to 9th non-parties’ application for leave to file a winding-up application against Defi Payments, but decided that the application was to be kept in abeyance pending the further progress of the case. The Court has also directed us to share its brief written remarks on SUM 448 and SUM 475, which you may find here.