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Gunvor SA v Atlantis Commodities Trading Pte Ltd [2024] SGHC 192
In Gunvor SA v Atlantis Commodities Trading Pte Ltd, the High Court of the Republic of Singapore addressed issues of Insolvency Law — Winding up.
Kho Choon Keng v Lian Keng Enterprises Pte Ltd (Kho Patrick and another, non-parties) [2024] SGHC 191
In Kho Choon Keng v Lian Keng Enterprises Pte Ltd (Kho Patrick and another, non-parties), the High Court of the Republic of Singapore addressed issues of Insolvency Law — Winding up, Companies — Winding up.
Farooq Ahmad Mann (in his capacity as the private trustee in bankruptcy of Li Hua) v Xia Zheng [2024] SGHC 182
An ancillary relief order providing for the division of matrimonial property can be challenged as a transaction at an undervalue under s 361 of the IRDA if it is the product of collusion or other vitiating factors.
Inter-Pacific Petroleum Pte Ltd (in liquidation) v Goh Jin Hian [2024] SGHC 178
A director of an insolvent company owes a duty to consider the interests of creditors, and a failure to exercise reasonable diligence in monitoring the company's affairs, leading to the company being used as a vehicle for fraud, constitutes a breach of duty.
Re Zhong Jun Resources (S) Pte Ltd (in liquidation) (Inner Mongolia Huomei-Hongjun Aluminium Electricity Co Ltd and another, non-parties) [2024] SGHC 160
The liquidator bears the burden of proof to show, on a balance of probabilities, that proofs of debt were wrongly admitted and should be expunged.
Re Picotin Pte Ltd and other matters [2024] SGHC 156
The court held that related companies are necessary and integral to a restructuring arrangement if they are essential to the restructuring objectives, and that carve-outs for landlords are not required if conditions can be imposed to protect their interests.
Re Fullerton Capital Ltd (in liquidation) [2024] SGHC 155
The court recognised a BVI liquidation as a foreign main proceeding under the UNCITRAL Model Law, finding that the BVI was the company's centre of main interests (COMI) and that the requirements for recognition were satisfied.
Rich Construction Co Pte Ltd v Greatearth Construction Pte Ltd (in liquidation) and others and another matter [2024] SGHC 144
The court held that the Settlement Deeds did not provide a complete release of the company's liabilities from 1 September 2021, but only a release from performance of obligations under the JVA. The court also affirmed that contingent and expectation losses are provable in a windi
Ascentury International Co Ltd v Viva Capital (SG) Pte Ltd [2024] SGHC 118
The court has statutory power under s 186(1) of the IRDA to terminate a winding up, and in exercising this discretion, the court must ensure the liquidator's interests, particularly regarding remuneration and disbursements, are adequately protected.
Chia Vui Khen Jason v HR Easily Pte Ltd [2024] SGHC 116
A winding-up application should be dismissed if the company raises a substantial and bona fide dispute regarding the debt, or if the company demonstrates its ability to pay its debts after the statutory demand deadline.
Natixis, Singapore Branch v Seshadri Rajagopalan and others and other matters [2024] SGHC 113
The issuance of an in rem writ in Singapore does not render a vessel 'subject to a security' within the meaning of s 100(2)(a) of the IRDA, nor does it render the claimant a creditor of the vessel owner under s 115 of the IRDA.
Park Hotel CQ Pte Ltd (in liquidation) and others v Law Ching Hung and another suit [2024] SGHC 105
A creditor can only advance a counterclaim that amounts to a permissible set-off against an insolvent company without having to obtain leave of court under s 133(1) of the IRDA, and only insolvency set-off is a permissible form of set-off against an insolvent company.
Sundar Venkatachalam v Bharathi d/o Subbiah (Official Assignee, non-party) [2024] SGHCR 6
A court of first instance has a free-standing inherent power to set aside a bankruptcy order to prevent injustice, but this should be exercised only in exceptional circumstances and not as a substitute for statutory appeal or annulment procedures.
Kyen Resources Pte Ltd (in compulsory liquidation) and others v Feima International (Hongkong) Ltd (In Liquidation) and another matter [2024] SGCA 7
The Singapore Court of Appeal dismissed the appeal by Kyen Liquidators, affirming the admission of Feima International's US$32M proof of debt. The court ruled that liquidators cannot use foreign rejections to automatically preclude domestic claims, clarifying the limits of transnational issue estopp
DGJ v Ocean Tankers (Pte) Ltd (in liquidation) and another appeal [2024] SGCA 57
Assignments of claims executed with the aim of asserting an insolvency set-off in anticipation of liquidation are void and unenforceable as they subvert the pari passu distribution regime.
Nature One Dairy (Australia) Pte Ltd v Bicheno Investments Pty Ltd [2024] SGCA 44
Permission to appeal is required for an order appointing interim judicial managers as it is an interlocutory order, and such permission will not be granted where the applicant fails to show a prima facie case of error.
British Steamship Protection and Indemnity Association Ltd and another v Thresh, Charles and another [2024] SGCA 43
The centre of main interests (COMI) of a regulated company is determined by its legitimate activities and regulatory framework; illegitimate activities conducted in breach of its licence are excluded from the COMI analysis.
Ascentra Holdings, Inc (in official liquidation) and others v SPGK Pte Ltd [2024] SGCA 2
The Singapore Court of Appeal declined to impose blanket, pre-emptive conditions on foreign liquidators during the recognition of a Cayman liquidation. The Court ruled that existing procedural safeguards are sufficient, rejecting requests for prior court permission for investigation actions.
Re Babel Holding Ltd and other matters [2023] SGHC 98
The court granted the extension of moratoria under s 64 of the IRDA, finding that the applicants had a substantial connection to Singapore and that the proposed scheme was not unworkable.
Re Zipmex Pte Ltd and other matters [2023] SGHC 88
The Court may approve the creation of an administrative convenience class in a scheme of arrangement under the IRDA, provided there is no undue prejudice to creditors, typically balanced by a quid pro quo such as full payment.
DB International Trust (Singapore) Ltd v Medora Xerxes Jamshid and another [2023] SGHC 83
A liquidator may be removed for cause under s 139(1) of the IRDA if it is in the real, substantial and honest interest of the liquidation, assessed by reference to the purposes of the liquidation and the creditors' interests.
Re Ascentra Holdings, Inc (in official liquidation) and others (SPGK Pte Ltd, non-party) [2023] SGHC 82
The Model Law on Cross-Border Insolvency, as enacted in the Third Schedule of the IRDA, does not apply to the liquidation of a solvent company.
Yap Sze Kam v Yang Kee Logistics Pte Ltd and another matter [2023] SGHC 43
The High Court dismissed applications for judicial management in Yap Sze Kam v Yang Kee Logistics, ruling that existing, professional receivership processes should not be disrupted when statutory purposes for judicial management are not met and creditors' interests are not served.
Re Thresh, Charles and another (British Steamship Protection and Indemnity Association Ltd and another, non-parties) [2023] SGHC 337
The court held that a company does not need to be insolvent or in severe financial distress to qualify for recognition of foreign proceedings under the SG Model Law, provided the law under which the proceeding is conducted includes provisions dealing with insolvency or debt adjus