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 digital technology disputes, joint venture and shareholders’ disputes spanning the financial/funds, hospitality, logistics, digital assets and tech industries, and contentious insolvency/bankruptcy-related proceedings.
Notable Cases & Transactions
Cryptocurrency & Digital Technology
- Advising New Zealand-based victim of stolen crypto-assets on the recovery of their assets via the ‘Persons Unknown’ jurisdiction including to obtain disclosure orders against crypto-exchanges to trace stolen assets valued at around NZ$1.35 million.
- Advising Korean account holders on claims against global cryptocurrency exchanges for return of cryptocurrency and trading profits.
- Representing Singapore-based blockchain services provider and founder in Singapore International Commercial Court litigation involving fraud, negligence, conspiracy and unjust enrichment claims by crypto-project token holders of around US$ 17 million.
- Representing co-founder of Singapore-based global digital asset services platform, Cake Group, in shareholder dispute with co-founder and Singapore High Court litigation against Cake Group on just and equitable grounds.
- Advising PRC-headquartered cryptocurrency mining hardware supplier in dispute with JV partner regarding the construction of cryptocurrency mining data centres in the Scandinavian region involving claims of around US$20 million.
- Represented ex-directors and employees 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.
- Represented Singapore-headquartered digital asset 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 USA-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.
- 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.
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 and the commercialisation of patented coal upgrading technology for claims of around US$120 million.
- Representing Singapore-based securities brokerage in Singapore High Court litigation against ex-customers involving fraud and negligent misrepresentations claims of around CA$70 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 country club and HNWI founder in 170-plaintiffs representative action before the Singapore High Court and Court of Appeal involving negligence and fraud claims by club members of around S$20 million.
- 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 conspiracy and claims against its founders, directors and entities based in Sri Lanka, the Solomon Islands, Australia and Singapore for around US$2.3 million.
- Representing ex-mutawallis of a Wakaf in dispute with ex-co-mutawalli in judicial review proceedings against the Majlis Ugama Islam Singapura.
Internal and Regulatory Investigations
Representing of 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, which the employees were seconded to as part of a joint venture.
- 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 judicial managers of Hin Leong Trading on investigations regarding company’s commodities trading transactions to establish whereabouts and ownership of cargo and sale proceeds.
Memberships / Directorships
- Mentor, Advisory SG
- 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