MAYBANK SINGAPORE LIMITED v SYNERGY GLOBAL RESOURCES PTE. LTD.
Key facts
| Court | High Court (General Division) |
|---|---|
| Decided | |
| Judge | Goh Yihan |
| Charges / claim | Contract, Insolvency Law |
| Counsel | Carson Law Chambers, Shook Lin & Bok LLP, Claudia Marianne Frankie Khoo, Lim Tean, Ng Yeow Khoon, Tham Xue Yi Fiona |
Source: [2023] SGHC 258, High Court (General Division), decided — eLitigation. Updated .
Catchwords
Practice Areas
Judges (1)
Counsel (6)
Parties (2)
Case Significance
Maybank Singapore Ltd v Synergy Global Resources Pte Ltd [2023] SGHC 258 is a reserved judgment of the General Division of the High Court, delivered by Goh Yihan JC on 12 September 2023 in Companies Winding Up No 87 of 2023 (Summons No 1741 of 2023). The claimant, Maybank Singapore Limited, applied to wind up the defendant, Synergy Global Resources Pte Ltd, which in turn applied to set aside the winding up application; the claimant had granted the defendant trade facilities under the Loan Insurance Scheme with a US$490,000 credit line and a SME Working Capital Loan of S$100,000. Goh Yihan JC allowed the winding up application (CWU 87) and dismissed the defendant's setting-aside application (SUM 1741), addressing issues of contractual discretion, triable issues in winding up, and the Unfair Contract Terms Act.
Summary
Maybank Singapore Limited applied to wind up Synergy Global Resources Pte Ltd over unpaid trade financing facilities, including a Trust Receipt of US$177,450, while the defendant applied to set aside the winding up and asserted cross-claims. The court found the defendant had not raised any genuine and serious cross-claim equal to or exceeding the debt. It allowed the winding up application and dismissed the set-aside application.
What was Maybank Singapore Ltd v Synergy Global Resources Pte Ltd [2023] SGHC 258 about?
It was a reserved judgment of Goh Yihan JC on 12 September 2023 on Maybank Singapore Limited's application to wind up Synergy Global Resources Pte Ltd over unpaid trade facilities, and the defendant's cross-application to set that winding up application aside.
What did the court decide in [2023] SGHC 258?
Goh Yihan JC allowed the winding up application (CWU 87) and dismissed the defendant's setting-aside application (SUM 1741), addressing contractual discretion, whether a triable issue existed, and the Unfair Contract Terms Act.
Statutes Cited
Cases Cited (18)
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Referenced in
Statutes interpreted in this judgment
Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2023] SGHC 258)