A shareholder of a company has the legal standing to oppose a putative creditor’s winding up application against the company.
In a recent decision of the Singapore High Court, the Court confirmed that shareholders of companies subject to a putative creditor’s winding up application have the legal standing to oppose the winding up application. The Court’s decision is consistent with the wording of the Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020, as well as English authorities on the matter.
Our Director Mingguan Lim and Counsel Lyndon Choo successfully acted for the single largest shareholder of Electronic Cash and Payment Solutions (S) Pte Ltd in resisting the winding up application brought by a putative creditor.
Read more about our commentary on the Court’s decision published on the Singapore Law Watch here.