Summary

This is the appeal of the defendants in this action, KBP Biosciences Pte Ltd ("KBP") and Dr Huang Zhenhua ("Dr Huang"), from the judgment dated 12 August 2025 ("Judgment") of Philip Jeyaretnam J ("Judge") sitting as a Judge of the Singapore International Commercial Court. By his Judgment, the Judge dismissed the appellants' application to set aside a worldwide freezing order made by him against them on 14 February 2025, save for a minor variation to the disclosure provisions of the order from which there is no appeal. The proceedings arise out of the sale of the rights to a drug, Ocedurenone, which KBP was developing. The respondent, Novo Nordisk A/S ("Novo"), purchased these rights pursuant to an Asset Purchase Agreement executed on 11 October 2023 ("the APA"). The APA is subject to New York law and provides for arbitration in New York. Novo's primary case arising out of this acquisition is that it purchased the rights to Ocedurenone as a result of fraudulent breaches of warranty and misrepresentations by KBP and Dr Huang. Pursuant to s 12A of the International Arbitration Act 1994 (2020 Rev Ed) ("IAA"), Novo sought a worldwide freezing order in support of a New York-seated arbitration which it intended to bring, and has now brought, against the appellants.

Injunctions - Mareva injunction - Setting aside - Arbitration - Injunction - Court's powers under section 12A International Arbitration Act 1994