Category: Corporate & Commercial

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.

Case Update: Major Shipping & Trading Inc v Standard Chartered Bank (Singapore) Ltd [2018] SGHC 04 – Claim against bank for making unauthorised transactions by fraudster fails

By Ronald JJ Wong, Director Significance: Singapore High Court construes “good faith” in banking standard terms in the context of unauthorised fund transfers, finds that circumstances were not sufficient to put a reasonable banker on suspicion regarding unauthorised transfers, and finds on reasonableness of exclusion clauses under the unfair contract terms act. Summary: The plaintiff […]