Lemarc Agromond Pte Ltd

[2023] SGHC 236 High Court (General Division) 25 August 2023 HC/OA 29/2023 ( HC/SUM 2439/2023 )

3 cases cited Cited by 2 cases

Key facts

Court	High Court (General Division)
Decided	25 August 2023
Judge	Hri Kumar Nair
Charges / claim	Insolvency Law
Counsel	Allen & Gledhill LLP, AsiaLegal LLC, Rajah & Tann Singapore LLP, Setia Law LLC, Sim Chong LLC, TSMP Law Corporation, Chara Lam Hui Xin, Chen Sixue, Chen Yi-Tseng, Juliana Lake (Lu Zhixuan), Jung Sol, Lee Jin Loong, Loong Tse Chuan, Sim Chong

Source: [2023] SGHC 236, High Court (General Division), decided 25 August 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Insolvency Law — Schemes of arrangement — Extension of moratoria

Practice Areas

Insolvency Law

Judges (1)

Hri Kumar Nair Delivered

Counsel (14)

Allen & Gledhill LLP Firm AsiaLegal LLC Firm Rajah & Tann Singapore LLP Firm Setia Law LLC Firm Sim Chong LLC Firm TSMP Law Corporation Firm

Chara Lam Hui Xin Counsel for the creditor

Chen Sixue Counsel for the applicant

Chen Yi-Tseng Counsel for the creditor

Juliana Lake (Lu Zhixuan) Counsel for the creditor Jung Sol Counsel for the creditor Lee Jin Loong Counsel for the creditor Loong Tse Chuan Counsel for the creditor Sim Chong Counsel for the applicant

Parties (1)

Lemarc Agromond Pte Ltd Applicant

Case Significance

Re Lemarc Agromond Pte Ltd [2023] SGHC 236 is a grounds of decision of Hri Kumar Nair J in the General Division of the High Court, delivered on 25 August 2023 in Originating Application No 29 of 2023 (Summons No 2439 of 2023), heard on 22 August 2023. The applicant, Lemarc Agromond Pte Ltd, an agricultural commodity trading subsidiary of the Hong Kong-incorporated Lemarc Agromond Limited, sought a second extension of a moratorium under s 64(1) of the Insolvency, Restructuring and Dissolution Act 2018, having first been granted a four-month moratorium on 10 February 2023 that was later extended to 31 July 2023. The Company sought a further extension to 15 September 2023, and Hri Kumar Nair J dismissed the application, providing these grounds to explain his decision.

Summary

Lemarc Agromond Pte Ltd, an agricultural commodity trading company whose Hong Kong parent had been wound up, applied under section 64(1) of the Insolvency, Restructuring and Dissolution Act 2018 for a second extension of a moratorium supporting a proposed scheme of arrangement. The company cited financing difficulties from the Covid-19 pandemic and the Russia-Ukraine war. Finding the application an exercise in delay with no meaningful progress on a scheme or reliable financial statements, the court dismissed it.

What was Re Lemarc Agromond Pte Ltd [2023] SGHC 236 about?

It was Lemarc Agromond Pte Ltd's application before Hri Kumar Nair J for a second extension of a moratorium under s 64(1) of the Insolvency, Restructuring and Dissolution Act 2018, which was dismissed, with grounds delivered on 25 August 2023.

What did the court decide in [2023] SGHC 236?

Hri Kumar Nair J dismissed the Company's application for a further extension of its moratorium to 15 September 2023, the moratorium having first been granted on 10 February 2023 for four months and later extended to 31 July 2023.