NCLAT: Can’t Dismiss Restoration App. if Filed in 30 Days from Date of Dismissal of Original App.  ||  Delhi HC: Communication between Parties through Whatsapp Constitute Valid Agreement  ||  Delhi HC Seeks Response from Govt. Over Penalties on Petrol Pumps Supplying Fuel to Old Vehicles  ||  Centre Notifies "Unified Waqf Management, Empowerment, Efficiency and Development Rules, 2025"  ||  Del. HC: Can’t Reject TM Owner’s Claim Merely because Defendant Could have Sought Removal of Mark  ||  Bombay HC: Cannot Treat Sole Director of OPC, Parallelly with Separate Legal Entity  ||  Delhi HC: Can Apply 'Family of Marks' Concept to Injunct Specific Marks  ||  HP HC: Can’t Set Aside Ex-Parte Decree for Mere Irregularity  ||  Cal. HC: Order by HC Bench Not Conferred With Determination by Roster is Void  ||  Calcutta HC: Purchase Order Including Arbitration Agreement to Prevail Over Tax Invoice Lacking it    

Re Conchubar Aromatics Ltd and other matters - (10 Dec 2015)

Singapore HC preemptively restrains creditor meeting

Company

Singapore High Court granted an order of restraint against creditors of a company in receivership, installing, essentially, a moratorium till the Applicants could restructure and rescue the company. Under Section 210(10) of the Companies Act, the court is empowered to restrain any such creditor meetings that could jeopardize attempts to revive the company, save when a resolution for winding up of the company had already been passed or agreement reached between the company and its creditors. The Court concluded that for exercise of its power, there must be a proposal for compromise or arrangement only, holding of a meeting was not a prerequisite. Determining the proposal of the Applicants to be sufficiently feasible under a “broad brush assessment” and nothing to show that the proposal was not bona fide, restraint order for 10 weeks was passed.

Tags : SINGAPORE   RESTRAINT   CREDITOR MEETING   PREEMPT  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved