Jason Teo, Associate Director, was recently appointed as Young
Independent Counsel in a creditor's winding up application
brought by Algorand Foundation Ltd against Three Arrows Capital
Pte. Ltd., the Singapore-incorporated management company for
collapsed cryptocurrency hedge-fund firm Three Arrows Capital.
In Algorand Foundation Ltd. v Three Arrows Capital Pte.
Ltd., Algorand sought a winding up order against the defendant
on the basis of an alleged unsatisfied liability of 53.5m USD Coin,
a form of stablecoin cryptocurrency.
The application was heard on 30 March 2023 by the High Court and
was disallowed.
The Supreme Court of Singapore's Young Independent Counsel
Scheme appoints young lawyers to assist the court on novel points
of law or important issues of public policy.
