Ascentra Holdings, Inc (In Official Liquidation) & 2 Ors v SPGK PTE. LTD.

Q: Which legislation does [2024] SGCA 2 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.

[2024] SGCA 2 Court of Appeal 25 January 2024 CA/CA 23/2022 17 min read

7 cases cited (6 SG, 1 foreign)

Key facts

Court	Court of Appeal
Decided	25 January 2024
Judges	Belinda Ang Saw Ean, Steven Chong, Sundaresh Menon
Charges / claim	Insolvency Law
Counsel	BlackOak LLC, Oon & Bazul LLP, Rajah & Tann Singapore LLP, Angela Phoon Yan Ling, Balakrishnan Ashok Kumar, Charlene Goh Kai Ning, Han Guangyuan Keith, Lee Eng Beng, Loh Song-En Samuel, Santhiya d/o Kulasakeran, Stanley Tan Sing Yee, Yeo En Fei Walter

Source: [2024] SGCA 2, Court of Appeal, decided 25 January 2024 — eLitigation. Updated 25 June 2026.

Catchwords

Insolvency Law — Cross-border insolvency — Recognition of foreign insolvency proceedings — Recognition of foreign solvent liquidation proceedings

Practice Areas

Insolvency Law

Judges (3)

Belinda Ang Saw Ean Coram Steven Chong Coram Sundaresh Menon Delivered

Counsel (12)

BlackOak LLC Firm Oon & Bazul LLP Firm Rajah & Tann Singapore LLP Firm Angela Phoon Yan Ling Counsel Appellant Balakrishnan Ashok Kumar Counsel Respondent Charlene Goh Kai Ning Counsel Respondent Han Guangyuan Keith Counsel Appellant Lee Eng Beng Counsel Appellant Loh Song-En Samuel Counsel Respondent Santhiya d/o Kulasakeran Counsel Appellant Stanley Tan Sing Yee Counsel Respondent Yeo En Fei Walter Counsel Appellant

Parties (4)

Ascentra Holdings, Inc (in official liquidation) Appellant SPGK Pte Ltd Respondent Chua Suk Lin Ivy Appellant Graham Robinson Appellant

Case Significance

Ascentra Holdings, Inc (in official liquidation) and others v SPGK Pte Ltd [2024] SGCA 2 was a Court of Appeal decision delivered on 25 January 2024 in Civil Appeal No 23 of 2022, with judgment reserved after a hearing on 15 November 2023. The coram comprised Sundaresh Menon CJ, who delivered the judgment of the court, Steven Chong JCA and Belinda Ang Saw Ean JCA. The appeal concerned cross-border insolvency and the recognition of foreign insolvency proceedings, specifically the recognition of foreign solvent liquidation proceedings.

In the underlying HC/OS 16/2022, the appellants sought an order recognising the Cayman Islands liquidation of the first appellant, Ascentra Holdings, Inc, as a "foreign main proceeding" within Art 2(f) of the Third Schedule to the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed), referred to as the SG Model Law, Singapore's adapted enactment of the UNCITRAL Model Law on Cross-Border Insolvency. Rajah & Tann Singapore LLP and Oon & Bazul LLP acted for the appellants; BlackOak LLC acted for the respondent SPGK Pte Ltd.

[2024] SGCA 2 explained

Ascentra Holdings, Inc (In Official Liquidation) & 2 Ors v SPGK PTE. LTD. ([2024] SGCA 2) is a Singapore judgment decided by the Court of Appeal on 25 January 2024. 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 [2024] SGCA 2 about?

Ascentra Holdings, Inc (In Official Liquidation) & 2 Ors v SPGK PTE. LTD. ([2024] SGCA 2) is a Court of Appeal decision from 2024. Its published catchwords are “Insolvency Law — Cross-border insolvency — Recognition of foreign insolvency proceedings — Recognition of foreign solvent liquidation proceedings”, which indicate the subject matter the judgment addresses. The full reasoning and orders are in the judgment itself, linked below.

Which legislation does [2024] SGCA 2 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 did Ascentra Holdings v SPGK Pte Ltd [2024] SGCA 2 concern?

[2024] SGCA 2 concerned cross-border insolvency and whether the Cayman Islands liquidation of Ascentra Holdings, Inc could be recognised in Singapore as a foreign main proceeding under Art 2(f) of the Third Schedule to the Insolvency, Restructuring and Dissolution Act 2018.

Who heard the appeal in Ascentra Holdings [2024] SGCA 2?

The Court of Appeal coram in [2024] SGCA 2 comprised Sundaresh Menon CJ, who delivered the judgment of the court, together with Steven Chong JCA and Belinda Ang Saw Ean JCA, with judgment reserved and delivered on 25 January 2024.