Ascentra Holdings, Inc (In Official Liquidation) & 2 Ors v SPGK PTE. LTD.

[2023] SGCA 32 Court of Appeal 18 October 2023 CA/CA 23/2022

10 cases cited (7 SG, 3 foreign) Cited by 1 case

Key facts

Court	Court of Appeal
Decided	18 October 2023
Judges	Belinda Ang Saw Ean, Steven Chong, Sundaresh Menon
Charges / claim	Insolvency Law
Counsel	BlackOak LLC, Oon & Bazul LLP, Rajah & Tann Singapore LLP, Angela Phoon Yan Ling, Balakrishnan Ashok Kumar, Gloria Chan Hui En, Han Guangyuan Keith, Lee Eng Beng, Shreya Prakash, Stanley Tan Sing Yee, Yeo En Fei Walter

Source: [2023] SGCA 32, Court of Appeal, decided 18 October 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Insolvency Law — Cross-border insolvency — Recognition of foreign insolvency proceedings — Recognition of foreign solvent liquidation proceedings

Practice Areas

Insolvency Law

Judges (3)

Belinda Ang Saw Ean Coram Steven Chong Coram Sundaresh Menon Delivered

Counsel (11)

BlackOak LLC Firm Oon & Bazul LLP Firm Rajah & Tann Singapore LLP Firm Angela Phoon Yan Ling Counsel for the appellant Balakrishnan Ashok Kumar Counsel for the respondent

Gloria Chan Hui En Counsel for the respondent

Han Guangyuan Keith Counsel for the appellant Lee Eng Beng Counsel for the appellant

Shreya Prakash Counsel for the respondent

Stanley Tan Sing Yee Counsel for the respondent Yeo En Fei Walter Counsel for the appellant

Parties (4)

Ascentra Holdings, Inc (in official liquidation) Appellant SPGK Pte Ltd Respondent Chua Suk Lin Ivy Appellant Graham Robinson Appellant

Case Significance

Ascentra Holdings, Inc (in official liquidation) and others v SPGK Pte Ltd [2023] SGCA 32 is a reserved judgment of the Court of Appeal — Sundaresh Menon CJ (delivering the judgment of the court), Steven Chong JCA and Belinda Ang Saw Ean JCA — delivered on 18 October 2023 in Civil Appeal No 23 of 2022. The appeal arose from a High Court decision in Originating Summons No 16 of 2022 on whether a voluntary liquidation qualified as a "foreign proceeding" within Article 2(h) of the Third Schedule to the Insolvency, Restructuring and Dissolution Act 2018, Singapore's adaptation of the UNCITRAL Model Law on Cross-Border Insolvency. The important question raised was whether that regime encompasses foreign insolvency, restructuring or liquidation proceedings concerning solvent companies; the excerpt does not disclose the outcome.

What was Ascentra Holdings v SPGK Pte Ltd [2023] SGCA 32 about?

It was a Court of Appeal cross-border insolvency case, before Sundaresh Menon CJ, Steven Chong JCA and Belinda Ang Saw Ean JCA, on whether a voluntary liquidation was a "foreign proceeding" under Singapore's Model Law, decided on 18 October 2023.

What cross-border insolvency question did [2023] SGCA 32 raise?

The appeal considered whether Singapore's adaptation of the UNCITRAL Model Law in the Third Schedule to the Insolvency, Restructuring and Dissolution Act 2018 recognises foreign insolvency, restructuring or liquidation proceedings concerning solvent companies, including a voluntary liquidation.