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Clifford Chance

Clifford Chance
Briefings

Briefings

Unwinding derivative instruments without notice, in a private wealth context – what to consider

12 April 2016

In Tan Poh Leng Stanley v UBS AG [2016] SGHC 17, the Singapore High Court considered how the various agreements which govern the relationship between banks and their private clients interact with each other.

The case is important as it discusses the interpretation of ISDA Master Agreements against the lattice of agreements made in a private wealth context. The Court also considered the
circumstances in which banks can unwind transactions without notice and the
duty of care required when doing so.

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