Author: Derek Lim

Case Update: Ang Ai Tee v Resource Credit [2017] SGHC 159 – Statutory Demand For Sum In Respect Of Loan Refinancing Transactions Set Aside

The article discusses the impact of the Moneylenders (Amendment) Rules 2015 and specifically whether there is a genuine triable issue that the refinancing loans contain excessive interests and the transactions are unconscionable or substantially unfair, such that the court can re-open the loan transactions under the Moneylenders Rules 2015.