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Opposition politician Lim Tean withdraws appeal against court order to repay loan, ahead of bankruptcy proceedings

Opposition politician Lim Tean withdraws appeal against court order to repay loan, ahead of bankruptcy proceedings

This means that the bankruptcy application filed against the 53-year-old last month will stand, unless he repays the loan as ordered by the District Court in August last year.

Categories: Headlines
Hyflux gets more time to report financials, conduct AGM

Hyflux gets more time to report financials, conduct AGM

THE Singapore Exchange has granted Hyflux further extensions to report its financials and to conduct its annual general meeting for fiscal 2018 as it undergoes reorganisation, the cash-strapped water treatment company announced late on Wednesday night.

Categories: Headlines
FAS' media-rights partner begins bankruptcy process

FAS' media-rights partner begins bankruptcy process

MP & Silva's Singapore office has been cleared out. The company's accounts have been frozen, its staff contracts terminated, and all its physical assets auctioned off for some $22,000.

Categories: Headlines

A last resort legal option for a trustee in bankruptcy?

This article discusses the legal basis for a Trustee in Bankruptcy to apply to Court for a forced-sale order of a private property that is co-owned by a bankrupt, where the other co-owners are unable/refuse, to buy out the bankrupt’s interest in the property, and also refuse to sell the property in the open market. 

Hyflux suspends contract for desalination package in Iran

Hyflux suspends contract for desalination package in Iran

Company says it is unable to maintain the banking support to receive payment for works to be performed under the contract

Categories: Headlines

Voluntary arrangements in bankruptcy – extension and revocation

In Re Aathar Ah Kong Andrew [2018] SGHC 227, the SHC held that it did not have the power to grant an extension of the interim stay order.

Re Fan Kow Hin [2018] SGHC 257

Insolvency Law — Bankruptcy

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

Companies — Schemes of arrangement

Companies — Schemes of arrangement

Lessons from the Jurong Aromatics case: non-assignment, crystallisation and set-off

The case of Jurong Aromatics Corp Pte Ltd (receivers and managers appointed) and others v BP Singapore Pte Ltd and another matter [2018] SGHC 215 is significant as it makes important distinctions.

China sportswear manufacturer is the first foreign company to be placed under judicial management in Singapore

The case is the first of its kind under the new amendments to the Companies Act introduced in 2017, which extended Singapore’s judicial management regime to foreign companies.

Re Aathar Ah Kong Andrew [2018] SGHC 227

Insolvency Law — Bankruptcy

Yashwant Bajaj v Toru Ueda [2018] SGHC 229

Insolvency Law — Bankruptcy

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.

Re Swiber Holdings Ltd [2018] SGHC 211

Companies — Receiver and manager
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