XIANG DA MARINE PTE. LTD. (IN CREDITORS' VOLUNTARY LIQUIDATION) & ANOR V ZHANG XIANMING & 4 ORS
Key facts
| Court | High Court Registrar |
|---|---|
| Decided | |
| Judge | Perry Peh |
| Charges / claim | Civil Procedure, Insolvency Law |
| Counsel | Alcove Law LLC, Helmsman LLC, Anthony Soh, Huang Peide, Iris Ng, Una Khng |
Source: [2023] SGHCR 15, High Court Registrar, decided — eLitigation. Updated .
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Counsel (6)
Parties (7)
Case Significance
Xiang Da Marine Pte Ltd (in creditors' voluntary liquidation) and another v Zhang Xianming and others [2023] SGHCR 15 is a reserved judgment of AR Perry Peh in the General Division of the High Court, delivered on 7 September 2023 in Originating Claim No 194 of 2023 (Summonses Nos 1965 and 1967 of 2023). The claimants, Xiang Da Marine Pte Ltd (in creditors' voluntary liquidation) and its liquidator Farooq Ahmad Mann, alleged that assets transferred to the third to fifth defendants, Fu Ning Marine, Ji Ning Marine and Qing Ning Marine Pte Ltd, were transactions at an undervalue under s 98(3)(a) and/or s 98(3)(c) of the Bankruptcy Act read with s 329 of the Companies Act. By SUM 1965, those defendants applied to strike out the claims under O 9 r 16 of the Rules of Court 2021, with SUM 1967 sought in the alternative; the judgment addresses the striking-out application.
Summary
The liquidator of Xiang Da Marine Pte Ltd, a ship-management company in creditors' voluntary liquidation, sued to recover assets transferred to three related companies, alleging transactions at an undervalue under the Bankruptcy Act read with the Companies Act. Those defendants applied to strike out the claims and, alternatively, for security for costs. The Assistant Registrar examined whether the statement of claim disclosed a reasonable cause of action, finding no material facts pleaded to support a breach of duty independent of the undervalue allegation.
What was Xiang Da Marine v Zhang Xianming [2023] SGHCR 15 about?
It was a striking-out application by the third to fifth defendants before AR Perry Peh, in a claim by Xiang Da Marine Pte Ltd (in liquidation) and liquidator Farooq Ahmad Mann alleging transactions at an undervalue, decided on 7 September 2023.
What was the legal basis for the claims in [2023] SGHCR 15?
The claimants alleged the first claimant's asset transfers to Fu Ning, Ji Ning and Qing Ning Marine Pte Ltd were transactions at an undervalue under s 98(3)(a) and/or s 98(3)(c) of the Bankruptcy Act read with s 329 of the Companies Act.
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Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2023] SGHCR 15)