A team from Clasis LLC comprising Junxiang Koh and Pi Wei Ng acted for the successful Plaintiff in Riady Tjandra v Cheng Yi Han [2024] SGHC 59 (“the Judgment”), securing judgment of US$500,000 and legal costs from the Defendant.
The dispute concerned an agreement for our client to purchase shares in a company which ostensibly owned a cryptocurrency-friendly offshore private bank. The purchase consideration was over US$4 million. The purchase consideration was duly paid and the Defendant personally received the sum of US$1.36 million. Despite this however, the Plaintiff did not receive the shares. After taking into account certain partial repayments made by the Defendant, the Plaintiff sued for the remaining sum of US$500,000 in breach of contract and unjust enrichment.
In a 78-page Judgment, the Honourable Judge found that the Plaintiff’s causes of action in breach of contract and unjust enrichment to be made out and granted judgment in the Plaintiff’s favour.