Assignments in Breach of Public Policy May Amount to Debt Trafficking

DGJ v Ocean Tankers (Pte) Ltd (in liquidation)[2024] SGCA 57

The Court of Appeal ruled that assignments may be ineffective for offending public policy. Additionally, an assignment of a bare right to sue must not prejudice the administration of justice. Generally, non-assignment clauses would also prohibit the assignment of contractual and related rights.

Facts

Filed under:
Singapore, Insolvency & Restructuring, Litigation, Shook Lin & Bok
Authors:
Liew Kai Zee , David Lee
Location:
Singapore
Firm:
Shook Lin & Bok
Set-Off - Assignability of Claims and Coverage of Non-Assignment Clause

Re Ocean Tankers (Pte) Ltd (in liquidation) [2023] SGHC 330

The Singapore High Court recently ruled on issues relating to the assignability of claims, coverage of non-assignment clause and insolvency set-off.

Facts

Filed under:
Singapore, Company & Commercial, Insolvency & Restructuring, Litigation, Shook Lin & Bok, Insolvency, Singapore High Court
Authors:
Liew Kai Zee , David Lee
Location:
Singapore
Firm:
Shook Lin & Bok
Financing a Variable Capital Company

Investment funds in Singapore are typically constituted as companies, unit trusts or limited partnerships. This is set to change with the advent of a new fund vehicle, the Variable Capital Company ("VCC"). The VCC is now an alternative, after the commencement of the Variable Capital Companies Act 2018 ("VCC Act") on 14 January 2020. This update focuses on the considerations a financier may wish to take note of when financing a VCC.

What is a VCC?

Filed under:
Singapore, Company & Commercial, Insolvency & Restructuring, Tax, Shook Lin & Bok, Board of directors, Due diligence, Investment funds
Authors:
Liew Kai Zee , Clement Khoo
Location:
Singapore
Firm:
Shook Lin & Bok