BABEL HOLDING LIMITED
Outcome
Application granted“I granted the application in its entirety, which would include the extension of the moratoria until three weeks after the scheme meeting is held.”
Source: [2023] SGHC 329, High Court (General Division), decided 24 November 2023. Read directly from the judgment.
Key facts
| Court | High Court (General Division) |
|---|---|
| Decided | |
| Judge | Aedit Abdullah |
| Charges / claim | Companies |
| Outcome | Application granted |
| Counsel | Allen & Gledhill LLP, Breakpoint LLC, FC Legal Asia LLC, Meritus Law LLC, Prolegis LLC, RCL Chambers Law Corporation, Shook Lin & Bok LLP, Alexander Lawrence Yeo, Chan Chee Yin Andrew, Chan Michael Karfai, Chew Di Shun, Dickson, Choong Guo Yao Sean, Chu Hua Yi, Edwin Yang Yingrong, Foo Maw Shen, Jo Tay Yu Xi, Lee Pei Yi Jamey, Lee Suet Yean Cherlyn, Low Hui Xuan Carrisa, Poh Yee Shing, Richard Xu Hanqi, Tan Jinwen, Mark, Tang Yuan Jonathan, Yeoh Tze Ning, Yuen Ai Zhen Carol |
Source: [2023] SGHC 329, High Court (General Division), decided — eLitigation. Updated .
Catchwords
Practice Areas
Judges (1)
Counsel (25)
Parties (7)
Case Significance
Re Babel Holding Ltd (Parastate Labs, Inc and others, non-parties) [2023] SGHC 329 is grounds of decision delivered by Aedit Abdullah J in the General Division of the High Court on 24 November 2023, in Originating Application No 881 of 2023. Babel Holding Limited, an entity within the Babel Group of companies, sought leave to convene a scheme meeting under s 210(1) of the Companies Act 1967, an application opposed by non-party Parastate Labs, Inc on several grounds. The judge found those objections to be without merit and granted the application, noting that an urgent appeal was being pursued by Parastate. The grounds cite 9 authorities, including 2 foreign decisions, and have been cited once.
Summary
Babel Holding Limited, an entity in the Babel group of companies under moratoria protection, applied under section 210(1) of the Companies Act 1967 for leave to convene a scheme meeting for a proposed scheme of arrangement combining claims across the group. Parastate Labs, Inc, a non-party creditor, opposed the application on grounds including inadequate disclosure and abuse of process. The court found the objections without merit, held that fairness of the scheme was a matter for the meeting rather than the leave stage, and granted the application in its entirety.
What did Re Babel Holding Ltd [2023] SGHC 329 decide?
Aedit Abdullah J granted Babel Holding Limited leave to convene a scheme meeting under s 210(1) of the Companies Act 1967 in Originating Application No 881 of 2023, rejecting objections raised by non-party Parastate Labs, Inc as without merit.
Who opposed the scheme meeting application in [2023] SGHC 329?
Parastate Labs, Inc, a non-party, opposed Babel Holding Limited's application for leave to convene a scheme meeting on several grounds; the objections were dismissed, and Parastate was pursuing an urgent appeal.
Statutes Cited
Cases Cited (9)
Related cases
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Referenced in
Statutes interpreted in this judgment
Legal concepts & references
Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2023] SGHC 329)