NOTABLE CASES OVER THE YEARS :
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1. Members' Voluntary Liquidation ("MVL")
a) Foreign and Public Companies:
| Company Name | Activities |
|---|---|
| Appointed as Liquidator to realize the assets and make distribution to 1,222 shareholders of the company. |
| Appointed as Liquidator to realize the assets and make distribution to 98 shareholders of the company. |
| Appointed as Liquidator to realize the assets and recovery from debtor in South Korea and make distribution to creditors of the company |
b) Local companies:
| Company Name | Activities |
| Liquidation of an investment holding and property development company |
| Involved in site development of condominium and purpose built factories |
| Trading in textiles and property ownership |
| Involved in the businesses of food processing, restaurants, manufacturing, trading, engineering, jewelry, publishing etc. |
2. Creditors' Voluntary Liquidation ("CVL")
| Company Name | Activities |
| Involving about 200 foreign workers working for a key manpower supplier in the key infrastructure sectors of Singapore Airport and seaports. Transfer of foreign workers without disruption and resolution of workers claims. |
| Involving a construction company with ongoing projects with several government agencies as well as private sector projects. Concerns raised in relation to the segregation of funds pledged to the bank. |
| Involving an OLED manufacturer. Complicated machine and equipment involving technical rights. |
| Involving trust receipts from 3 banks and realization of machinery in China. |
| The inventory of a major distributor of iPhone cases and accessories with logistics problems of warehousing, removal and sale. |
3. Court Winding Up ("CWL")
| Company Name | Activities |
| Involves disputing shareholders, valuation and sale of intellectual property. Creditors were eventually paid 100%. |
| Insolvent Company arising out of exchange control in Nigeria affecting Sindi creditors in Singapore, London and Hong Kong. Negotiations were complicated and at times emotional. |
| Appointed as Provisional Liquidator in British Virgin Island for the Desaru project. Involving about two billion Malaysian Ringgit (in the 80s). Politically sensitive and finally resolved without being acrimonious. |
| Involving disputing shareholders, sale of shares and possible stay of winding up order and complications on sale of Company involving property license. |
| Involving group of travel agencies in the region, intercompany receivables, debtors, claims from the public for unconsumed travel packages. Restructuring of a tourist attraction. |
| Litigation in Court where the patriarch of the family had to be removed, tax issues on capital gain and internal disputes of family member. |
| Investigations into alleged fraud by directors involving about 67 investors. |
| Involving sale of machinery and equipment. Litigation in Court against Director Chew and others for breach of fiduciary duties and claim made. |
| Involving recoveries of debts from many retailers of cakes, pastry and kueh. Finally, resolved by sale of property in a structured deal. |
| Involving disputing shareholders, minority oppression and sale of overseas assets and distribution. |
| Involving family disputes, realisation of assets and distribution to shareholders. |
| Involving investigations into the affairs of the Company and disputing shareholders, resulting in successful clawbacks for creditors |
| Completion of work in progress, certification, retention sums, projects completion before final distribution to creditors. |
| Involving realization of assets and distribution. |
| Litigation in Court involving Letters of Hypothecation on the determination on whether the charges constituted floating or fixed charges involving about 50 banks in the 1980s. |
| Investigation on undue preference. |
| Definition of associates and related parties clarified as a result of litigation in Court regarding undue preference. This case is cited in Walter Woon's Law Book. |
| Nominated sub-contractor was not given priority to claim against main contractor in liquidation. Singapore construction law was changed after this case. |
| Construction related issue of retention sum, work in progress and completion. |
| Construction related issue of retention sum, work in progress and completion. |
| Investigation on fraudulent and insolvent trading and undue preference payments. |
| Investigation on undervalue transaction. |
4. Judicial Management ("JM")
| Company Name | Activities |
| Fabrications of aluminum claddings for developers |
| Air-conditioning and Engineering |
| Major HDB contractor involved in low cost housing |
| Construction |
| Construction |
| Logistics management of warehouse |
| Food court management and operations |
5. Receivership : Court Appointed / Appointed by Debentures
| Company Name | Activities |
| Mainly tiles and building materials |
| Publications |
| Seafood processing in Jurong |
| Publications of periodicals and educational books |
| - |
| Transport business in haulage. Dispute between shareholders |
| Transport business in haulage. Dispute between shareholders |
| Courier business between Singapore and Batam |
| Shareholder dispute involving investigations and other allegations |
| Courier business |
| Air-conditioning and Engineering |
| Hotel ownership and management |
6. Valuations of Companies for Merger and Acquisitions and Specific Purposes
| Specific purposes performed include valuations for share buyouts, divorce proceedings etc. |
7. Investigations
| Investigated into industries such as cigarette (Kretek) manufacturing, engineering, logistics, shipping, sanitary wares and timber plantations |
8. Forensic, Investigations and Examinations
| Keppel Club | Investigating into embezzlement of $37 million by an employee of a golf club |
| Chain of mobile vendors | Investigating into suspicious outflow of funds and accounting entries |
9. Notable Appointers
- City Development Pte Ltd, Boustead Group, EDB Investments, Agency for Science, Technology and Research (A*STAR), OCBC Bank, DBS Ltd, Small-Medium Enterprises and other family-owned businesses.
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