DASIN RETAIL TRUST MANAGEMENT PTE. LTD.

[2025] SGHC 6 High Court (General Division) 13 January 2025 • HC/OA 1257/2024 • 46 min read

10 cases cited (8 SG, 2 foreign) Cited by 1 case

Catchwords

Companies — Schemes of arrangement — Trustee-manager of business trust seeking moratorium for intended scheme of arrangement — Whether trustee-manager may propose scheme of arrangement in respect of debts incurred in capacity as trustee-manager — Whether requirements for grant of moratorium satisfied — Terms of moratorium order — Section 64 Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed)

Practice Areas

Companies

Judges (1)

Kristy Tan Delivered

Counsel (23)

Parties (11)

Aqua Wealth Holdings Limited Third Party Bounty Way Investments Limited Third Party Dasin Retail Trust Management Pte Ltd Applicant Malayan Banking Berhad, Singapore Branch Third Party New Harvest Investments Limited Third Party Cao Yong Third Party Sun Shu Third Party Wang Qiu Third Party Zhang Guiming Third Party Zhang Jieyan Third Party Zhang Zhencheng Third Party

Case Significance

[2025] SGHC 6 is a High Court (General Division) decision dated 13 January 2025 concerning Companies, specifically addressing schemes of arrangement. The judgment was delivered by Kristy Tan. Legal representation was provided by Rajah & Tann Singapore LLP. The judgment cites 10 cases (8 Singapore, 2 foreign) and references 7 statutory provisions, including the Arbitration Act, the Companies Act, and the Finance Companies Act. This decision has been cited by 1 subsequent judgment in the dataset.

Summary

Dasin Retail Trust Management, the trustee-manager of a SGX-listed business trust owning retail malls in China, applied for a moratorium under s 64 of the IRDA to restructure approximately $370 million in liabilities from syndicated loan facilities that matured in 2022. The court granted a four-month moratorium but declined to make an omnibus extraterritorial order, requiring DRTM to make additional disclosures about its financial position and restructuring proposal to creditors.

What was decided in [2025] SGHC 6?

[2025] SGHC 6 (DASIN RETAIL TRUST MANAGEMENT PTE. LTD.) is a High Court (General Division) decision from 13 January 2025 addressing Companies, specifically schemes of arrangement. The judgment was delivered by Kristy Tan.

Which judge decided [2025] SGHC 6?

[2025] SGHC 6 was delivered by Kristy Tan in the High Court (General Division) on 13 January 2025. The case concerned Companies.

What cases and statutes does [2025] SGHC 6 cite?

[2025] SGHC 6 cites 10 prior decisions, including 2 from foreign jurisdictions. It references Arbitration Act, Companies Act, Finance Companies Act. The decision has itself been cited by 1 subsequent judgment.