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Noble may seek court-appointed administration in Britain after Singapore authorities block relisting: board reiterates

Noble may seek court-appointed administration in Britain after Singapore authorities block relisting: board reiterates

MAS and SGX barred the relisting of New Noble just two weeks after the Singapore police, the MAS and the Acra jointly announced that they were looking into suspected offences by Noble and a key subsidiary.

Categories: Headlines

Arbitration clause in shareholders’ agreement does not preclude Court proceedings for same relief under Articles

In BTY v BUA and other matters [2018] SGHC 213, the issue was whether or not the matter should proceed to litigation or arbitration. 

Mustafa Centre boss being sued by sons of dad's partner

Mustafa Centre boss being sued by sons of dad's partner

The late Mr Samsuddin Ahmad's sons are seeking a High Court order to void the alleged share dilution of the business over the years that has shrunk the Samsuddin estate's portion from 50 per cent to 15 per cent.

Categories: Headlines
SGX warns firms against misconduct in share buybacks

SGX warns firms against misconduct in share buybacks

While a share buyback "serves as a useful capital management tool", using one to carry out any form of market misconduct such as insider trading or creating a false market is illegal: SGX CEO Tan Boon Gin

Categories: Headlines

Re IM Skaugen SE and other matters [2018] SGHC 259

Companies — Schemes of arrangement

Companies — Schemes of arrangement

Directors and the scope of fiduciary duties

The SHC in Winsta Holdings Pte Ltd and another v Sim Poh Ping and others [2018] SGHC 239 found that the Sim family had in fact breached their fiduciary duties.

Transactions in breach of the financial assistance regime

International Healthway Corp Ltd v The Enterprise Fund III Ltd and others [2018] SGHC 246 is the first reported decision applying the Companies Act to void transactions where a company has purported to purchase its own shares.

Noble under investigation for various suspected breaches

Noble under investigation for various suspected breaches

The CAD and MAS as well as the Acra are probing Noble Group for suspected false and misleading statements and breaches of disclosure requirements. 

Categories: Headlines

Journals Online: Reformulating the rules on director liability exclusions in Said v Butt: PT Sandipala Arthaputra v STMicroelectronics Asia Pacific Pte Ltd [2018] 1 SLR 818 [Case Note]

The judgment left the position on personal liability for a company’s tortious acts significantly different. This note argues that the position in tort should be brought in line with that for contract.

[MYR] Ensuring Compliance with the Myanmar Companies Law 2017

The Myanmar Companies Law 2017 (MCL), which entered into force on 1 August 2018, introduces a modern legal framework for foreign investment in Myanmar.

Supreme Court Case Summary: Douglas Foo Peow Yong v ERC Prime II Pte Ltd and another appeal and other matters [2018] SGCA 67

CA allowed the winding up of ERC Prime II and Gryphon Real Estate Investment Corporation on the basis that the applicants had justifiably lost confidence in the management of these companies.

[MYR] Anti-corruption and anti-bribery laws in Myanmar

On 3 Aug 2018, the Ministry of Planning and Finance, DICA issued an announcement on the Anti-Corruption Code of Ethics for Companies and Body Corporates.

LawWatch - October 2018 Edition

This update includes summaries of notable cases such as Bintai Kindenko Pte Ltd v Samsung C&T Corp [2018] SGCA 39 and The Wellness Group Pte Ltd v Paris Investment Pte Ltd & Ors [2018] SGCA 47.

Voting rights of bondholders and trustees in restructuring proceedings

In Re Swiber Holdings Ltd [2018] SGHC 211, the SHC dealt with novel issues arising from when the bond issuer enters judicial management, or seeks  a to restructure its debt in a scheme of arrangement.

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