In SME Care Pte Ltd v Jannie Chan Siew Lee [2025] SGHC 27, the Singapore High Court held a bankrupt ex-director of a company personally liable to the company for failing to take steps to recover sums owed by third parties to the company. This update takes a brief look at the key takeaways from the decision.
Insolvency Law — Cross-border insolvency
A committee to enhance Singapore's corporate restructuring and insolvency regime was convened by the Ministry of Law to provide recommendations to further enhance Singapore’s corporate debt restructuring and insolvency framework. The Committee has recently released its report which is open to the public’s feedback until 8 April 2025. This update summarises the report.
Insolvency Law — Cross-border insolvency
When a joint owner of property is sued for debt, the creditors are entitled to claim the half share of the home that belongs to the debtor.
Qoo10’s total liabilities far exceed the sums recovered so far.
The Singapore High Court in DMZ v DNA [2025] SGHC 31 held that proceedings commenced by the claimant seeking review of an administrative decision made by the Singapore International Arbitration Centre were bound to fail. The decision is worthy of note as a rare instance of judicial authority considering the relationship between arbitral institutions and the parties to the arbitrations they administer, as well as the supervisory court's role in overseeing institutional arbitrations.
Group Lease Holdings Pte Ltd v Group Lease Public Co Ltd [2024] SGHC 302 concerned an interim injunction application brought by the company and its liquidator, in the context of a clawback action against the company’s parent. Two important and novel issues were raised: (a) whether an unregistered charge is void against a provisional liquidator; and (b) whether the exercise of a charge created in circumstances rendering it an unfair preference may be restrained under s 270 of the Companies Act 1967 (2020 Rev Ed). This article addresses these twin developments in the law of company liquidation and their potential implications.
MinLaw data shows number of borrowers declared bankrupt rose by 12.4% to 1,232.
Insolvency Law — Cross-border insolvency
Insolvency Law — Bankruptcy ; Civil Procedure — Costs
This update looks at the High Court decision of Re Dasin Retail Trust Management Pte Ltd [2025] SGHC 6 which is the first reported case in Singapore involving an application for a moratorium by a trustee of a business trust to restructure liabilities of both the business trust and the trustee.