Re Raffles Town Club Pte Ltd

CourtHigh Court (Singapore)
JudgeKan Ting Chiu J
Published date26 September 2005
Plaintiff CounselMolly Lim SC and Roland Tong (Wong Tan and Molly Lim LLC)
Defendant CounselK Shanmugam SC, Andrew Chan, M Reza and Candace Ler (Allen and Gledhill)
Subject MatterCompanies,Receiver and manager,Appointment,Schemes of arrangement,Whether appointment of receiver and manager necessary for making of informed decision on proposed scheme of arrangement

22 September 2005

Kan Ting Chiu J:

1 After I heard and disposed of the application on 8 September 2005 ([2005] SGHC 173), I heard further arguments at the request of the litigant-members.

2 At the conclusion of the further hearing on 19 September 2005, I confirmed my orders of 8 September. I will set out the developments following 8 September 2005.

3 On 8 September 2005, the solicitors for the litigant-members wrote for leave to make further arguments on the entire application. On 9 September, they wrote again to state that there was a change of position, and that they were not proceeding with prayers 1, 2 and 3 of the application for a stay of my orders made on 31 August 2005 in Summons in Chambers No 4437 of 2005 for the convening of the meeting under s 210 of the Companies Act (Cap 50, 1994 Rev Ed) and for the stay of other proceedings in the meantime, and that they would proceed with the other applications:

(a) to appoint a special receiver and manager for the Club for two months with powers:

(i) to ascertain the true current financial position of [the Club], including but not limited to its assets and liabilities;

(ii) to ascertain how the funds, receipts and income earned by [the Club] in the past years since 2001 were used;

(iii) to inspect the documents, books and accounting records of [the Club], including but not limited to accounting records (both hard and soft copies), bank records, statutory books, minutes, membership lists, correspondence and such other relevant documents and to take copies thereof;

(iv) to ascertain, after determining the true financial position of [the Club] as regards its assets and liabilities, whether [the Club] is able to meet the claims of the 4,895 [litigant-members] and if not, whether the Scheme of Arrangement as proposed by [the Club] can be improved and/or varied in light of [the Club’s] current financial position and performance;

(v) to prepare a report on the above and for submission to Court with copies extended to the solicitors for [the Club] and the 4,895 [litigant-members] within 2 weeks after the expiration of the Interim Period;

and presumably also the powers as well as the duties of a receiver, since the application is for the appointment of a special receiver and manager;

(b) for an order to restrain the Club from “dealing with, disposing and/or charging” any of its assets; and

(c) for liberty to apply to examine the officers and directors of the Club.

4 The basis of the applications was that the...

To continue reading

Request your trial
3 cases
  • Lim Eng Hock Peter v Lin Jian Wei and Another and Another Appeal
    • Singapore
    • Court of Three Judges (Singapore)
    • 8 October 2009
    ...to appoint a special receiver and manager was dismissed by the High Court on 22 September 2005 (see Re Raffles Town Club Pte Ltd [2005] SGHC 178 (“Re Raffles Town Club”)). An appeal to this court was likewise dismissed. However, during the hearings in both courts, the Company gave assurance......
  • Lim Eng Hock Peter v Lin Jian Wei and Another
    • Singapore
    • High Court (Singapore)
    • 10 February 2009
    ...sheet was however, dismissed by the Court on 22 September 2005. Kan Ting Chiu J (“Kan J”) in his judgment Re Raffles Town Club Pte Ltd [2005] SGHC 178 4 The basis of the applications was that the litigant-members do not have information on the true financial position of the Club except for ......
  • Lim Eng Hock Peter v Lin Jian Wei and Another and Another Appeal
    • Singapore
    • Court of Three Judges (Singapore)
    • 8 October 2009
    ...to appoint a special receiver and manager was dismissed by the High Court on 22 September 2005 (see Re Raffles Town Club Pte Ltd [2005] SGHC 178 (“Re Raffles Town Club”)). An appeal to this court was likewise dismissed. However, during the hearings in both courts, the Company gave assurance......

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT