Chinese national Zhang Ruijin, 45, faces three charges of forging documents to cheat CIMB bank. The fake documents include two sale agreements for properties in Macau and a loan agreement stating he had borrowed funds from a Hong Kong company.

The bitter fight was sparked after one of them cried foul for being short-changed, even though he got over $45 million.

In Foo Kian Beng v OP3 International Pte Ltd (In liquidation) [2024] SGCA 10, the Singapore Court of Appeal dismissed the Appellant’s appeal and held up the findings by the Judge of the General Division of the High Court of Singapore that a director has a duty to consider the interests of creditors as part of his duty to act in the best interests of the company at a time when the company was in a financially parlous state, and that the Appellant had breached that duty by authorising the payment of disputed transactions to himself. This update analyses the court's decision.

The Monetary Authority of Singapore recently announced its intention to repeal the regulatory regime for Registered Fund Management Companies (“RMFC”) on 1 August 2024. This update highlights key points RFMCS should note and action to prepare for the repeal of the RFMC regime.

The Christopher Bathurst Prize, presented in collaboration between SAL and Fountain Court Chambers, is now accepting submissions for 15th edition of the annual essay writing competition! Open to all full-time law students of NUS, SMU, SUSS and young lawyers under 30 years old, this is your chance to showcase your legal prowess. The winner will win an all-expenses-paid two-week internship in London! Submissions close 28 June 2024 (4pm SGT). 

Family Law — Matrimonial assets

Land — Strata titles

Criminal Law — Statutory offences

Singapore is set to implement changes to its foreign work pass system, including an increase in the Employment Pass (EP) qualifying monthly salary for new applicants and renewals.

The guidelines adopt a broad definition of flexible working arrangements that employers must fairly consider and be open to offering.

Judicial Commissioner dismisses minority owners' objections to the sale, finds no evidence that transaction lacks good faith.

Even if it is a deal with relatives or friends, written words count a lot and would decide whether the money is yours.