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Alliance Divine Impex Pte Ltd v Arulappan Tony (DBS Bank Ltd, non-party) [2024] SGHC 227
The court clarified the three-step framework for applying the 'Bankers' Books Exception' under s 175(1) of the Evidence Act 1893, emphasizing that the court's discretion must be exercised based on the relevancy of documents, the applicant's prior efforts to obtain disclosure, and
Banque de Commerce et de Placements SA, DIFC Branch & Anor v China Aviation Oil (Singapore) Corporation Ltd [2024] SGHC 145
The court held that the contract between the defendant and the third party was not a sham or fraudulent transaction, and that the plaintiff failed to establish liability in deceit, negligent misrepresentation, breach of contract, unjust enrichment, or unlawful means conspiracy.
Susilawati v American Express Bank Ltd [2007] SGHC 179
A bank does not owe a fiduciary duty to a customer in a suretyship transaction unless there is evidence of overreaching or conflict of interest, and the presumption of undue influence does not arise simply from a relationship of trust and confidence without evidence of ascendancy
Pertamina Energy Trading Ltd v Credit Suisse [2006] SGHC 4
A bank is entitled to set off a loan against a customer's fixed deposit where the customer has authorised the drawdown and the bank has acted in accordance with the mandate and conditions of the account, and the customer is precluded from denying the loan if it fails to object to
Standard Chartered Bank v Neocorp International Ltd [2005] SGHC 43
A conclusive evidence clause in a guarantee does not preclude the court from reviewing the legal basis of a claim, as the clause is a matter of contractual interpretation and does not confer an absolute right to determine the justiciability of a claim.
Korea Exchange Bank v Standard Chartered Bank [2005] SGHC 220
The court held that express terms in a letter of credit can override provisions of the UCP 500 incorporated by reference if there is an irreconcilable inconsistency, and that an issuing bank is precluded from asserting discrepancies if it fails to provide a notice of refusal upon
Oversea-Chinese Banking Corp Ltd v Infocommcentre Pte Ltd [2005] SGHC 134
An overdraft facility is generally repayable on demand unless the parties have expressly or impliedly agreed otherwise, and a bank does not owe a duty of care to a borrower when exercising its discretionary right to withdraw such facilities.
Ho Soo Fong and Another v Standard Chartered Bank and Other Applications [2004] SGHC 258
A bank's standard terms and conditions providing for a right to lodge a caveat upon an event of default do not, without more, create an immediate equitable charge or mortgage over a borrower's property, and thus do not constitute a caveatable interest.
Lam Hong Leong Aluminium Pte Ltd v Lian Teck Huat Construction Pte Ltd and Another [2003] SGHC 53
The High Court ruled in favor of Lam Hong Leong Aluminium, awarding $27,594 for work on the Genting block and granting interlocutory judgment for the Tannery block. The court dismissed the defendants' counterclaims and held the second defendant personally liable under the guarantee.
Wee Soon Kim Anthony v UBS AG [2003] SGHC 305
The court held that the plaintiff failed to prove that the defendant's officers made misrepresentations that caused him loss, and that the plaintiff had been adequately advised on the risks of the DFF Strategy.
Elis Tjoa v United Overseas Bank [2003] SGHC 1
A bank's standard terms and conditions, including clauses requiring a customer to verify statements and notify the bank of discrepancies within a specified period, are binding and can exclude the bank's liability for forged instructions if the customer fails to comply with the no
Mcconnell Dowell Constructors (Aust) Pty Ltd v Sembcorp Engineers and Constructors Pte Ltd (formerly known as SembCorp Construction Pte Ltd) [2002] SGHC 8
The right of a beneficiary to make a call on an on-demand bank guarantee depends on the terms of the guarantee itself, not the underlying contract, unless the guarantee stipulates otherwise.
Beam Technology (Mfg) Pte Ltd v Standard Chartered Bank [2002] SGHC 54
A confirming bank is not obliged to accept a document presented under a letter of credit if it discovers the document is a forgery or nullity within the seven-day period for rejection under UCP 500, even if the beneficiary is innocent.
Bok Chee Seng Construction Pte Ltd v Development Bank of Singapore Ltd [2002] SGHC 30
A bank cannot rely on a conclusive evidence clause or the indoor management rule to justify acting on an invalid mandate if those defences were not pleaded in the defence.
Roberto Building Material Pte Ltd & Others v Oversea-Chinese Banking Corporation Limited & Another [2002] SGHC 291
A mortgagee or security holder owes a duty of good faith to the mortgagor when exercising powers under the security, but is entitled to protect its own interests even if disadvantageous to the borrower. The appointment of a receiver by a mortgagee is a decision that can generally
Industrial & Commercial Bank Ltd v P. D. International Pte Ltd [2002] SGHC 269
In Industrial & Commercial Bank Ltd v P. D. International Pte Ltd [2002] SGHC 269, the High Court ordered the rectification of a Security Memorandum, finding it was signed under a common mistake. The court limited the security scope, ruling that internal documentation proved the parties' true intent
Beckkett Pte Ltd v Deutsche Bank AG Singapore Branch [2002] SGHC 268
A pledgee owes a duty to the pledgor to take reasonable steps to obtain the best price reasonably obtainable for the pledged shares when exercising its right of sale.
Seng Hock Heng Contractor Pte Ltd v Hup Seng Bee Construction Pte Ltd and Another [2002] SGHC 151
The court will not grant an injunction to restrain payment on a performance bond unless the applicant discharges the onus of proving fraud or unconscionable conduct, which requires more than inconclusive evidence.
PT Adaro Indonesia v Rabobank [2002] SGHC 114
An issuing bank cannot rely on discrepancies to refuse payment under a letter of credit if it is estopped by its own conduct, specifically where it has indicated it would refer discrepancies to the applicant for acceptance and the applicant has accepted them.
Chew Pin Pin v AGF Insurance (Singapore) Pte Ltd [2001] SGHC 40
A bondsman has no recourse to the underlying contract between the employer and the contractor when the contractor is not a party to the suit, and must pay on demand if the conditions of the performance bond are met.
Oversea-Chinese Banking Corp Ltd v Chng Sock Lee and Another [2001] SGHC 306
The court held that the defendants failed to prove undue influence by the father and that the plaintiffs had no constructive notice of any such influence. Furthermore, the plaintiffs were not under a duty to disclose the progress payments as they were unaware of them.
Samwoh Asphalt Premix Pte Ltd v Sum Cheong Piling Pte Ltd and Another [2001] SGHC 170
A demand guarantee is an independent payment undertaking that must be honoured upon presentation of a demand, and the court should be slow to interfere with this contractual arrangement.
Industrial & Commercial Bank Ltd v Banco Ambrosiano Veneto S.P.A. [2001] SGHC 120
Authenticated SWIFT messages have the legal effect of binding the sender bank according to their contents, as the system is designed to avoid arguments regarding authority.
Khoo Tian Hock and Another v Oversea-Chinese Banking Corp Ltd (Khoo Siong Hui, Third Party) [2000] SGHC 178
In Khoo Tian Hock v OCBC [2000] SGHC 178, the High Court dismissed the plaintiffs' claim, ruling that customers owe an implied duty to take reasonable precautions to prevent fraud. The court held that failing to secure cheque books against a known risk of forgery constitutes a breach of this duty.