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Liquidator of Leong Seng Hin Piling Pte Ltd v Chan Ah Lek and Others [2007] SGHC 9
The court held that for a claim of fraudulent trading under s 340(1) of the Companies Act, there must be a finding of subjective dishonesty on the part of the defendants, and that mere insolvency or preference of one creditor over another does not constitute fraudulent trading.
Sysma Construction Pte Ltd v EK Developments Pte Ltd [2007] SGHC 36
The court held that where a voluntary winding up has commenced, a compulsory winding up order will not be granted unless there is a good reason to override the wishes of the majority of creditors.
Ganesh s/o M Sinnathamby v Public Prosecutor [2007] SGHC 189
In Ganesh s/o M Sinnathamby v Public Prosecutor [2007] SGHC 189, the High Court substituted custodial sentences with a $24,000 fine. The court ruled that an offender's discharge from bankruptcy warrants a departure from the Choong Kian Haw sentencing tariff, as fines regain their punitive efficacy.
AmBank (M) Berhad v Raymond Yong Kim Yoong [2007] SGHC 172
For debts incurred outside Singapore, a bankruptcy application requires a judgment that is enforceable by execution in Singapore; if leave of court is required to enforce the judgment, it must be obtained before the bankruptcy application can be presented.
Management Corporation Strata Title Plan No 2677 v Hock Chuan Ann Construction Pte Ltd (in liquidation) [2007] SGHC 162
In Management Corporation Strata Title Plan No 2677 v Hock Chuan Ann Construction Pte Ltd (in liquidation), the High Court of the Republic of Singapore addressed issues of Insolvency Law — Winding up.
Re Joshua Benjamin Jeyaretnam ex parte Indra Krishnan and others [2007] SGHC 14
The court held that an application for discharge from bankruptcy should be refused where the administration of the estate is incomplete, the bankrupt has failed to cooperate with the Official Assignee, and there has been no material change in circumstances since previous failed a
Public Prosecutor v Low Kok Heng [2007] SGHC 123
Section 133 of the Bankruptcy Act provides a single defence of innocent intention consisting of two limbs (lack of intent to defraud and lack of intent to conceal the state of affairs), both of which must be satisfied for the defence to succeed.
Wong David H v Timothy Seow Group Architects Pte Ltd (in liquidation) and Another [2007] SGHC 110
An application for an extension of time to appeal against a liquidator's rejection of a proof of debt will be dismissed where there is an inordinate delay and no valid ground to justify it.
Leun Wah Electric Co (Pte) Ltd (in liquidation) v Sigma Cable Co (Pte) Ltd [2006] SGHC 86
The court held that the assignment of a debt to a creditor in lieu of cash payment was supported by good consideration and did not constitute an unfair preference or a transaction at an undervalue, as the company acted in good faith to carry on its business.
Amrae Benchuan Trading Pte Ltd (in liquidation) v Lek Benedict and Others [2006] SGHC 75
In Amrae Benchuan Trading v Lek Benedict [2006], the Singapore High Court ruled that directors committed undue preferences by transferring company assets to related parties. The court ordered judgment against the defendants, while allowing set-offs against costs owed by the litigation funder.
Ho Wing On Christopher and Others v ECRC Land Pte Ltd (in liquidation) [2006] SGHC 16
A liquidator who brings an action on behalf of an insolvent company is not personally liable for costs incurred by the winning party simply because the company has insufficient assets, unless there is evidence of impropriety or misconduct.
Wee Soon Kim Anthony v UBS AG [2006] SGHC 139
The court held that a statutory demand is not defective for failing to mention a pending leave application, as an appeal or leave application does not operate as a stay of execution.
Yap Jeffery Henry and Another v Ho Mun-Tuke Don [2006] SGHC 106
A liquidator in a voluntary winding up has the power to resign, and the court may remove a liquidator for cause shown, which includes circumstances where it is in the interest of the liquidation to replace the liquidator.
Re Tang Yoke Kheng (ex parte Lek Benedict and another) [2005] SGHC 214
The court held that exceptional circumstances existed to warrant a stay of bankruptcy proceedings where the debtor was the main creditor of a company and was funding the liquidator's action against the petitioning creditors, who were also directors of that company.
De Montfort University v Stanford Training Systems Pte Ltd [2005] SGHC 202
A winding-up petition should be stayed where the debt forming the basis of the petition is bona fide disputed on substantial grounds.
Lai Swee Lin Linda v Attorney-General [2005] SGHC 182
The court held that there was no sufficient reason to stay bankruptcy proceedings where the applicant failed to provide good reasons for the stay and focused on a separate suit against the Attorney-General.
Finebuild Systems Pte Ltd v Transbilt Engineering Pte Ltd (in liquidation) [2005] SGHC 17
The court has a wide discretion under s 334(1)(c) of the Companies Act to set aside the rights of a liquidator in favour of a creditor, and this discretion is not limited to cases involving dishonesty or trickery.
Wee Soon Kim Anthony v Lim Chor Pee and Another [2005] SGHC 159
The court held that a statutory demand should be set aside if there is a genuine triable issue regarding a counterclaim, set-off, or cross demand that equals or exceeds the debt.
Chong Chee Keong v Official Assignee [2005] SGHC 119
A certificate of discharge from bankruptcy wipes the slate clean for the bankrupt, and any residual rights, including money due after the discharge, revert to the discharged bankrupt unless the Official Assignee expressly reserved that money as a condition to the discharge.
Re Econ Corp Ltd (in provisional liquidation) (No 2) [2004] SGHC 49
Insolvency practitioners must justify their remuneration by providing detailed, contemporaneous records of work done, and the court will assess this based on fairness, reasonableness, and value contributed, rather than mere time-costing.
Re Rasmachayana Sulistyo (alias Chang Whe Ming); ex parte The Hongkong and Shanghai Banking Corp Ltd and Other Appeals [2004] SGHC 281
Parties may contractually agree on alternative modalities for service of bankruptcy-related documents, as the Bankruptcy Rules regarding service are directory rather than mandatory.
Nova Leisure Pte Ltd v Dynasty Theatre Nite-Club KTV and Lounge Pte Ltd [2004] SGHC 273
The court held that it does not have the power to authorise a liquidator to pay money out of a bank account unilaterally, and that the court may only authorise a liquidator to make payments into an account with a bank specified by the court.
Velstra Pte Ltd (in compulsory winding up) v Azero Investments SA [2004] SGHC 251
In Velstra Pte Ltd v Azero Investments SA [2004] SGHC 251, the High Court ruled in favor of the plaintiff, holding the defendant liable as a constructive trustee for US$250,346.98 after finding that a debt assignment was a pre-planned breach of the director's fiduciary duties.
Korea Asset Management Corp v Daewoo Singapore Pte Ltd (in liquidation) [2004] SGHC 25
The court will grant leave for compulsory winding up where a company is already in voluntary liquidation if it is necessary to ensure an independent investigation into the company's affairs, particularly where the voluntary liquidators are perceived to lack independence or where