Xian Fong specialises in international arbitration, commercial litigation, and investigations.
Xian Fong’s practice covers a broad range of subject matters with a focus on:
- cryptocurrency and technology disputes
- joint venture, shareholders and post-M&A disputes spanning the financial/funds, digital assets and technology, hospitality, healthcare, logistics, real estate industries
- construction and infrastructure project disputes
- insolvency/bankruptcy-related proceedings
Notable Cases & Transactions
Cryptocurrency & Technology Disputes
- Advising New Zealand-based victim of stolen crypto-assets on the recovery of their assets including to obtain disclosure orders against global crypto-exchanges to trace stolen assets valued at around NZ$1.35 million.
- Advising South Korea-based account holder on claims against global crypto-exchange for return of cryptocurrency assets and trading profits exceeding 700 million Tether (USDT).
- Representing Singapore-based ESG solutions provider and its founder in Singapore International Commercial Court litigation involving fraud, negligence, conspiracy and unjust enrichment claims by Cyprus-based utility token holders of around US$145 million, stemming from legacy blockchain solutions business.
- Represented ex-directors and ex-C-suites of crypto-lender Babel Finance group in Singapore High Court litigation involving fraud, negligence and conspiracy claims by the Zipmex group and other customers for around S$81 million.
- Advised creditors of crypto-lender Babel Finance group in the restructuring of Babel Finance group via Singapore court-administered scheme of arrangement.
- Representing South Korea-based account holders in SIAC arbitration against global crypto-exchange for return of cryptocurrency assets and trading profits exceeding 42 million Tether (USDT).
- Advising PRC-headquartered cryptocurrency mining hardware supplier in dispute with JV partner regarding the development of data centres in the Scandinavian region involving claims of around US$20 million.
- Advising South Korea-based account holders on claims against global crypto-exchange for return of cryptocurrency assets and trading profits exceeding 8 million Tether (USDT).
- Advised PRC-based account holders on the recovery of crypto-assets from defunct crypto-wallet provider MOBI and crypto-exchange ABCC Exchange exceeding US$1.2 million.
- Representing co-founder of Singapore-based global digital asset services platform, Cake Group, in shareholder dispute with co-founder and Singapore High Court winding up application on just and equitable grounds against Cake Group.
- Represented Singapore-headquartered digital assets financial services provider in contractual dispute with IT services provider, and passing off claims against Middle East-based crypto-funds.
- Representing Singapore-based global AI marketing services provider in shareholder dispute with US-based fund management corporation involving misrepresentation claims regarding AI capabilities.
- Advised creditors on claims in FTX’s US Chapter 11 proceedings and Bahamas liquidation.
International Commercial Arbitration
- Representing managing partners of Cayman Islands-domiciled private equity fund and Singapore-based fund management company with more than US$7 billion AUM in SIAC arbitration against retired partner in dispute over distribution of management fees.
- Representing Vietnam subsidiary of US-based investor in SIAC arbitration against Vietnam state entity in concession dispute regarding the development and operation of integrated waste management landfill facility in Vietnam involving claims exceeding US$140 million.
- Represented Bombay-listed EPC main contractor and Philippines sub-contractor in SIAC arbitration against the employer in infrastructure project dispute regarding the construction of an integrated biofuel and power generation plant in the Philippines involving claims exceeding US$104 million.
- Represented India-based global supply chain services provider in SIAC arbitration against APAC, European and Americas JV partners in joint venture dispute involving minority shareholder oppression and employment claims of around S$76 million.
- Representing Bombay-listed heavy engineering company in SIAC arbitration against Thai owner in infrastructure project dispute regarding the design, engineering, manufacturing and supply of broilers for the construction of a broiler plant in Thailand involving claims exceeding US$2 million.
- Represented US-based battery recycling company in SIAC arbitration against Japan-based anode materials manufacturer regarding the sale and purchase of cathode foils involving claims exceeding US$1.2 million.
Commercial & Civil Litigation
- Represented Australian ASX-listed mining exploration company in Singapore International Commercial Court litigation against Indonesia-listed coal producer involving the development of a coal briquetting plant in Indonesia and the commercialisation of patented coal upgrading technology for claims of around US$120 million.
- Representing Singapore country club owner and HNWI founders in Singapore High Court litigation against Singapore court-appointed liquidators involving litigation funded claims for breach of directors’ duties and insolvency clawback claims exceeding S$70 million.
- Representing Singapore-based securities brokerage in Singapore High Court litigation involving fraud and negligent misrepresentations claims by ex-customers of around CA$70 million and related investigations by BVI liquidators.
- Represented 447 investors in collective redress proceedings via an SPV structure in Singapore High Court litigation involving fraud, negligence, breach of trust and conspiracy claims against the investment scheme marketing and escrow agents of around SG$48 million.
- Represented co-founder and director of property redevelopment JV companies (involving Singapore-listed Sakae Holdings Ltd) in Singapore High Court and Court of Appeal litigation involving shareholder oppression claims, just and equitable winding up applications, equitable tracing claims including the recovery of shares valued and account of profits of around S$39 million.
- Represented Singapore social club owner and HNWI founder in 170-plaintiffs representative action in Singapore High Court and Court of Appeal litigation involving fraud and claims by club members of around S$20 million.
- Represented HNWI in Singapore High Court and Court of Appeal winding up application on just and equitable grounds involving competing claims by opposing shareholder and private trustees in relation to assets of around S$19 million. Successfully obtained favourable landmark Court of Appeal judgment, which clarified the scope of liquidators’ investigative powers.
- Represented Australian country club, hospitality and property development group and HNWI founder in Singapore High Court litigation against co-founder, directors and CEO in shareholders’ dispute over control of assets of around AU$8 million.
- Represented Solomon Islands bank in investigations and Singapore High Court litigation involving claims for conspiracy and breach of directors’ duties against its founders, directors and entities based in Sri Lanka, the Solomon Islands, Australia and Singapore for around US$2.3 million.
- Represented doctor-shareholders / directors of stem cell cryo-preservation and manufacturing group in Singapore High Court litigation against fund-purchaser in post-M&A dispute involving claims of around S$20 million including for alleged failure to obtain licensing for the manufacture and wholesale of mesenchymal stem cells under Singapore’s Health Products Act.
- Representing HNWI in Singapore High Court litigation against aesthetics doctor and clinic in medical negligence and battery claims involving Ellanse dermal filler treatments.
- Represented retrenched senior manager / product lead in Singapore High Court litigation against pharmaceutical company GSK for breach of employment contract.
- Represented ex-mutawallis of a Wakaf in Singapore High Court litigation with ex-co-mutawalli in judicial review proceedings against the Majlis Ugama Islam Singapura.
Internal and Regulatory Investigations
- Representing HNWI in investigations by Singapore court-appointed liquidators involving potential claims of around S$130 million.
- Represented Singapore-based crane supplier and directors in investigations by Australian liquidator involving claims exceeding AU$1.2 million.
- Represented fund management employees of Japanese-headquartered global financial services group in internal and regulatory investigations regarding alleged misconduct of the affairs of Singapore-based venture capital fund management company.
- Represented Japanese-headquartered global financial services group in internal investigations involving misconduct by senior employees.
- Represented ex-employees of Singapore Government-linked entities in investigations involving breaches of confidentiality and the Official Secrets Act.
- Advised Singapore court-appointed judicial managers of Hin Leong Trading on investigations regarding company’s commodities trading transactions to establish whereabouts and ownership of cargo and sale proceeds.
PUBLICATIONS
- Co-author, Legal 500 Class Actions Comparative Guide 2024 – Singapore Chapter: https://www.legal500.com/guides/chapter/singapore-class-actions/
- Co-author, “Judge, Jury and Investigator: Court of Appeal Outlines Scope of Liquidator’s Investigative Duties and Powers” (Lexology, 24 January 2024): https://www.lexology.com/library/detail.aspx?g=8d32d458-8d73-4f4f-80b3-1cb55dc0d4f5
- Co-author, “Issues of Jurisdiction in the Borderless World of Crypto Disputes” (NUS Centre for Technology, Robotics, Artificial Intelligence & the Law, July 2023): https://law.nus.edu.sg/trail/issues_of_jurisdiction_in_the_borderless_world/
- Co-author, “How the Courts are Dealing with Crypto Disputes – Recent Developments in Crypto Asset Litigation across Jurisdictions” (Lexology, 31 March 2023): https://www.lexology.com/library/detail.aspx?g=f4a77473-838b-4cd7-8983-9dac6385fefe
- Co-author, “Establishing and Disproving Insolvency – Golf Course Holding Company Avoids Winding Up Application” (Lexology, 29 June 2022): https://www.lexology.com/library/detail.aspx?g=7f24eef6-20a4-4210-bdc2-232aa43c7a9b
- Co-author, “Disagreement Over Relocation of Club Facilities: Court Upholds Decision to Restrict Award to Nominal Damages” (Lexology, 1 April 2022): https://www.lexology.com/library/detail.aspx?g=88056572-c533-4afc-bc2b-c172bc298099
- Co-author, “Disagreement Over Relocation of Club Facilities: Members Awarded Nominal Damages for Failure to Prove Loss” (Lexology, 19 July 2021): https://www.lexology.com/library/detail.aspx?g=4bd4dc94-e0e7-401a-8dd3-e7de498d1279
