SCC Venture VI Holdco G, Ltd v Zhao Changpeng (HCMP 2770/2017, 24 April 2018)

This is a recent case of alleged breach of investment agreement in relation to a cryptocurrency exchange platform. In the case of SCC Venture VI Holdco G, Ltd v Zhao Changpeng (HCMP 2770/2017, 24 April 2018), the plaintiff obtained an ex parte injunction order restraining the defendant from entering into any agreement with other parties in connection with equity financing of a cryptocurrency exchange platform. The dispute emerged when different parties tried to seize new business opportunities. The injunction was subsequently discharged on the basis of an abuse of process, that the plaintiff was wrong to pursue the application ex parte without notice to the defendant