Do Kwon's claim for 19.4 million Singapore dollars for a property was rejected by the court

ChainCatcher news, according to the Straits Times, Do Kwon, co-founder of the now-defunct blockchain company Terraform Labs, demanded about 50% of the purchase price for a top-floor apartment on Orchard Road in Singapore, but was rejected by the Singapore High Court.

Five months before the collapse of his cryptocurrencies TerraUSD and Luna in 2022, Do Kwon had set his sights on the Sculptura Ardmore apartment valued at 38.8 million SGD. He selected a 7,600 square foot duplex four-bedroom penthouse located on the 19th floor of the project, one of only three penthouses in the development. Do Kwon paid approximately 19.4 million SGD in option fees and subsequent payments, nearly half of the purchase price. However, he ultimately failed to complete the purchase, and the apartment was eventually resold for 34.5 million SGD. Although it is claimed that the developer has confiscated the payments made by Do Kwon, he argued that the confiscation was invalid and entrusted his wife to file a lawsuit in the Singapore High Court. Do Kwon's application was rejected on July 26.