KINGSMEN EXHIBITS PTE LTD v REGALRARE GEM MUSEUM PTE. LTD.
Catchwords
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Counsel (8)
Case Significance
Kingsmen Exhibits Pte Ltd v RegalRare Gem Museum Pte Ltd and another matter [2024] SGHC 238 was a grounds of decision of Goh Yihan J in the General Division of the High Court of Singapore, dated 17 September 2024, following hearings on 12 July and 7 August 2024 in Companies Winding Up Nos 121 and 122 of 2024. These were two winding-up applications made by Kingsmen Exhibits Pte Ltd against RegalRare Gem Museum Pte Ltd and Kings Luxury Concepts Pte Ltd, based on s 125(1)(e) read with s 125(2)(a) of the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed). The catchwords frame the issue as whether each company was deemed unable to pay its debts under those provisions.
RegalRare and Kings Luxury were represented by Chang Yen Ping Ian and Chen Sheng Hans of Cornerstone Law LLP, while Kingsmen as claimant was represented by Terence Yeo of TSMP Law Corporation, and the Insolvency & Public Trustee's Office appeared for the official receiver through Goh Yin Dee and Lim Yew Jin. The applications were first scheduled to be heard on 14 June 2024 but were refixed to 21 June 2024 on account of RegalRare's Chief Executive Officer suffering a family bereavement.
[2024] SGHC 238 explained
KINGSMEN EXHIBITS PTE LTD v REGALRARE GEM MUSEUM PTE. LTD. ([2024] SGHC 238) is a Singapore judgment decided by the High Court (General Division) on 17 September 2024. It is categorised under Insolvency Law. Within this corpus it has since been cited by 3 other reported Singapore judgments, a measure of how often later decisions have referred to it. 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] SGHC 238 about?
KINGSMEN EXHIBITS PTE LTD v REGALRARE GEM MUSEUM PTE. LTD. ([2024] SGHC 238) is a High Court (General Division) decision from 2024. Its published catchwords are “Insolvency Law — Winding up — Grounds for petition — Whether company deemed unable to pay its debts — Sections 125(1)(e) and 125(2)(a) Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed)”, which indicate the subject matter the judgment addresses. The full reasoning and orders are in the judgment itself, linked below.
Which legislation does [2024] SGHC 238 consider?
The judgment refers to Building and Construction Industry Security of Payment Act (Cap 30B), 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 [2024] SGHC 238 cite?
Among the in-corpus authorities it refers to are [2024] SGHC 195 and [2024] SGHC 116. The complete list of cases cited, and of later cases that cite this decision, is shown on this page.
How influential is [2024] SGHC 238?
Within this corpus, [2024] SGHC 238 has been cited by 3 later reported Singapore judgments. That count reflects references from other decisions held in this corpus only and is a conservative lower bound on how often the case has actually been cited.
Summary
Kingsmen Exhibits Pte Ltd brought two winding-up applications against RegalRare Gem Museum Pte Ltd and Kings Luxury Concepts Pte Ltd under s 125(1)(e) read with s 125(2)(a) of the Insolvency, Restructuring and Dissolution Act 2018, with the issue being whether each company was deemed unable to pay its debts. After several adjournments and the defendants' failure to file reply affidavits asserting cash-flow solvency, Goh Yihan J granted the winding-up applications in respect of both companies. The judge also emphasised that defendants to such applications should not seek adjournments solely to unduly delay matters.
What did Kingsmen Exhibits Pte Ltd v RegalRare Gem Museum Pte Ltd [2024] SGHC 238 concern?
Decided by Goh Yihan J on 17 September 2024, the matter concerned two winding-up applications by Kingsmen Exhibits Pte Ltd against RegalRare Gem Museum Pte Ltd and Kings Luxury Concepts Pte Ltd, on whether each was deemed unable to pay its debts under the Insolvency, Restructuring and Dissolution Act 2018.
Which statutory provisions grounded the winding-up applications in [2024] SGHC 238?
The applications, comprising Companies Winding Up Nos 121 and 122 of 2024, were based on s 125(1)(e) read with s 125(2)(a) of the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed), concerning a company deemed unable to pay its debts.
Statutes Cited
Cases Cited (8)
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Statutes interpreted in this judgment
Legal concepts & references
Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2024] SGHC 238)