In Re Terraform Labs Pte Ltd [2025] SGHC(I) 4, the Singapore International Commercial Court (“SICC”) granted the reliefs sought by the applicant under Art 21(1) of the UNCITRAL Model Law on Cross-Border Insolvency as adopted in Singapore by way of s 252 and the Third Schedule of the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed) (the “SG Model Law”), including an order for the recognition of its US Chapter 11 liquidation plan and US court order confirming the plan. The SICC held that the chapeau of Art 21(1) of the SG Model Law grants the court an expansive and open-ended discretion to grant appropriate relief and allows the court to be guided by principles of comity and a spirit of cooperation with foreign courts. Read more: go.gov.sg/2025sghci4