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However, in legal systems where this fundamental distinction is not well established, the amalgamation of the two notions may give rise to unnecessary complications that are likely to jeopardize the legitimate rights of the parties. The DCA dismissed the appeal holding that the Xs’ action lacked legal basis. 16, 2014, p.
5] In Three Arrows , the first defendant (‘defendant’) was a British VirginIslands incorporated company (BVI) which was an investment fund trading and dealing in cryptocurrency. 16] The respondent was clearly the legal owner; the question was whether the assets belonged beneficially to the applicant. [17] 17] [2023] SGHCR 22.
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