Majestica Enterprises Limited & Anor v Kams Singapore Pte Ltd (In Compulsory Liquidation)

Q: Which legislation does [2023] SGHC 250 consider?

The judgment refers to Companies Act (Cap 50), Insolvency, Restructuring and Dissolution Act, and Restructuring and Dissolution Act. The statutes cited are listed in full on this page, each linking to its primary text.

[2023] SGHC 250 High Court (General Division) 7 September 2023 HC/OA 592/2023 9 min read

2 cases cited

Outcome

Application granted

I granted the application and made an order under s 204(3) of the IRDA giving the applicants an advantage over other creditors on the terms set out in the Funding Agreement for the following reasons:(a) The advantage to be given to the applicants (see [6] above) was reasonable given the risk that the applicants would be undertaking.

Source: [2023] SGHC 250, High Court (General Division), decided 7 September 2023. Read directly from the judgment.

Key facts

Court	High Court (General Division)
Decided	7 September 2023
Judge	Chua Lee Ming
Charges / claim	Insolvency Law
Outcome	Application granted
Counsel	Blackstone & Gold LLC, Eldan Law LLP, Shook Lin & Bok LLP, Baldev Singh Bhinder, Jamal Siddique Peer, Kuek Zihui, Muhammad Imran Bin Abdul Rahim, Suresh Viswanath, Vaybhav Kumar Sharma s/o Thakor Prasad Sharma

Source: [2023] SGHC 250, High Court (General Division), decided 7 September 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Insolvency Law — Winding up — Funding by creditors

Practice Areas

Insolvency Law

Judges (1)

Chua Lee Ming Delivered

Counsel (9)

Blackstone & Gold LLC Firm Eldan Law LLP Firm Shook Lin & Bok LLP Firm Baldev Singh Bhinder Counsel Applicant Jamal Siddique Peer Counsel Applicant Kuek Zihui Counsel Respondent Muhammad Imran Bin Abdul Rahim Counsel Respondent Suresh Viswanath Counsel Applicant Vaybhav Kumar Sharma s/o Thakor Prasad Sharma Counsel Applicant

Parties (3)

Kams Singapore Pte Ltd (in compulsory liquidation) Respondent Majestica Enterprises Limited Applicant The Challenger Trade Finance Segregated Portfolio of the South Africa Alpha SPC Applicant

Case Significance

Majestica Enterprises Ltd and another v Kams Singapore Pte Ltd (in compulsory liquidation) [2023] SGHC 250 is a grounds of decision of Chua Lee Ming J in the General Division of the High Court, delivered on 7 September 2023 in Originating Application No 592 of 2023. The applicants, Majestica Enterprises Limited and The Challenger Trade Finance Segregated Portfolio of the South Africa Alpha SPC, both creditors of Kams Singapore Pte Ltd, applied under s 204(3) of the Insolvency, Restructuring and Dissolution Act 2018 for an advantage over other creditors in respect of assets recovered or preserved as a result of funding they provided, after the Company (wound up in 2020) and its liquidation estate ran out of funds for the Liquidator to continue investigations. Chua Lee Ming J granted the application for the reasons set out.

[2023] SGHC 250 explained

Majestica Enterprises Limited & Anor v Kams Singapore Pte Ltd (In Compulsory Liquidation) ([2023] SGHC 250) is a Singapore judgment decided by the High Court (General Division) on 7 September 2023. It is categorised under Insolvency Law. It is a recent decision; within this corpus no later judgment has cited it yet. This page summarises what the reported decision covers and links the primary sources — the full judgment, the statutes it cites, and the other cases it engages with — so the decision can be read in context. It is reference information, not legal advice, and it does not state the outcome or any holding beyond what the official judgment records.

What is [2023] SGHC 250 about?

Majestica Enterprises Limited & Anor v Kams Singapore Pte Ltd (In Compulsory Liquidation) ([2023] SGHC 250) is a High Court (General Division) decision from 2023. Its published catchwords are “Insolvency Law — Winding up — Funding by creditors”, which indicate the subject matter the judgment addresses. The full reasoning and orders are in the judgment itself, linked below.

Which legislation does [2023] SGHC 250 consider?

The judgment refers to Companies Act (Cap 50), Insolvency, Restructuring and Dissolution Act, and Restructuring and Dissolution Act. The statutes cited are listed in full on this page, each linking to its primary text.

What earlier Singapore cases does [2023] SGHC 250 cite?

Among the in-corpus authorities it refers to are [2023] SGHC 131. The complete list of cases cited, and of later cases that cite this decision, is shown on this page.

Summary

Majestica Enterprises Limited and another applicant, both creditors of Kams Singapore Pte Ltd (in compulsory liquidation), applied under s 204(3) of the Insolvency, Restructuring and Dissolution Act 2018 to be given an advantage over other creditors in respect of assets recovered through funding they provided to the liquidator under a funding agreement. Considering factors such as the reasonableness of the advantage given the risk, whether other creditors had been offered the opportunity to fund, and whether the liquidator retained control, the court granted the application and made the order sought.

What was Majestica Enterprises Ltd v Kams Singapore Pte Ltd [2023] SGHC 250 about?

It was an application by creditors Majestica Enterprises Limited and The Challenger Trade Finance Segregated Portfolio before Chua Lee Ming J, under s 204(3) of the Insolvency, Restructuring and Dissolution Act 2018, for an advantage over other creditors from creditor-funded recoveries, granted on 7 September 2023.

Why did the creditors seek funding priority in [2023] SGHC 250?

Kams Singapore Pte Ltd, wound up in 2020, and its liquidation estate had run out of funds, so the Liquidator could not continue investigations; the funding creditors sought an advantage under s 204(3) of the IRDA over assets recovered through their funding.