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The court sanctioned Jetstar Asia Airways Pte Ltd’s scheme of arrangement, upheld an administrative convenience class for consumer creditors, and approved a variation to the default proof-of-debt procedure.
The High Court dismissed Ng’s appeal against conviction and reduced both appellants’ fraudulent trading sentences, while leaving the SFA and MLMA sentences largely intact.
The High Court granted MM2 Asia Ltd a four-month moratorium under s 64 IRDA, finding procedural compliance, good faith, and sufficient creditor support.
On the evidence the claimant knew of the relevant transactions at or about the material time, failed to come to court with utmost candour, pursued the application for collateral purposes and delayed unreasonably; accordingly the claimant was not acting in good faith under s 216A(3)(b) and leave to bring the derivative action was refused.
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The Appellate Division upheld deceit liability but reduced damages to nominal $1,000, and upheld oppression findings while removing discounts from the share buyout valuation.
The High Court struck out a minority shareholder’s originating application seeking implied constitutional terms on board appointments, holding it was an abuse of process and legally unsustainable.
The High Court refused a moratorium for Liberty House Group Pte Ltd, finding its scheme funding plan lacked credibility, and granted judicial management instead.
The High Court dismissed an urgent application to appoint an additional liquidator, holding that the request was aimed at facilitating a U.S. deposition rather than the liquidation itself.
The High Court granted restoration of a struck-off company and made a limitation direction so the applicant could pursue a personal injury claim.
The High Court adopted a Logachev sentencing framework for s 76 Companies Act offences, rejected a single starting-point approach, and upheld a 12-month sentence for Sim.
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