Fineplas Holdings Pte Ltd v Sitra Wood Products: Lifting of Interim Injunction

In Fineplas Holdings Pte Ltd (fka Tasinder Pte Ltd) v Sitra Wood Products Pte Ltd, the Singapore High Court heard an application to set aside an ex parte interim injunction. Sitra Wood had obtained the injunction to restrain the defendants from selling or disposing of their shares. The defendants applied to set aside the injunction, arguing that Sitra Wood's claim was for damages and the defendants were prepared to purchase the shares in question. The court, presided over by Justice Rajendran, allowed the application, finding that damages would be an adequate remedy and that Sitra Wood had not demonstrated the defendants' inability to pay damages.

1. Case Overview

1.1 Court

High Court

1.2 Outcome

Application allowed.

1.3 Case Type

Civil

1.4 Judgment Type

Grounds of Decision

1.5 Jurisdiction

Singapore

1.6 Description

The High Court allowed the application to set aside an interim injunction, finding damages to be an adequate remedy in a dispute over share sales.

1.7 Decision Date

2. Parties and Outcomes

Party NameRoleTypeOutcomeOutcome TypeCounsels
Sitra Wood Products Pte LtdPlaintiff, RespondentCorporationApplication dismissedLost
Fineplas Holdings Pte Ltd (fka Tasinder Pte Ltd)Defendant, ApplicantCorporationApplication allowedWon

3. Judges

Judge NameTitleDelivered Judgment
S RajendranJudgeYes

4. Counsels

Counsel NameOrganization
Henry HengRodyk & Davidson
Govind AsokanRodyk & Davidson
Molly LimJansen, Menon & Lee
William JansenJansen, Menon & Lee

4. Facts

  1. Sitra Wood obtained an ex parte interim injunction against the defendants.
  2. The injunction restrained the defendants from selling or disposing of their shares.
  3. The defendants applied to set aside the injunction.
  4. The defendants argued Sitra Wood's claim was for damages and they were prepared to purchase the shares.
  5. The court considered whether damages were an adequate remedy.
  6. Sitra Wood did not allege the defendants were unable to pay damages.

5. Formal Citations

  1. Re Fineplas Holdings Pte Ltd (fka Tasinder Pte Ltd), , [2001] SGHC 20

6. Timeline

DateEvent
Sitra Wood Products Pte Ltd applied for and obtained an interim injunction.
Defendants applied for the injunction to be set aside.
Hearing before the court.
Application allowed.

7. Legal Issues

  1. Lifting of Interim Injunction
    • Outcome: The court allowed the application to lift the interim injunction, finding that damages would be an adequate remedy.
    • Category: Procedural
    • Sub-Issues:
      • Adequacy of damages as a remedy
      • Burden of proof regarding the defendant's ability to pay damages
      • Balance of convenience
    • Related Cases:
      • [1976] 1 QB 122

8. Remedies Sought

  1. Injunction to restrain the sale or disposal of shares
  2. Order for the defendants to purchase the shares of the plaintiffs

9. Cause of Actions

  • No cause of actions

10. Practice Areas

  • Commercial Litigation

11. Industries

  • No industries specified

12. Cited Cases

Case NameCourtAffirmedCitationJurisdictionSignificance
Fellowes & Son v FisherCourt of AppealYes[1976] 1 QB 122England and WalesCited for the principle that an interlocutory injunction should not be granted if damages are an adequate remedy and the defendant is financially able to pay them.

13. Applicable Rules

Rule Name
No applicable rules

14. Applicable Statutes

Statute NameJurisdiction
No applicable statutes

15. Key Terms and Keywords

15.1 Key Terms

  • Interim injunction
  • Ex parte
  • Adequacy of damages
  • Balance of convenience
  • Burden of proof
  • Shares
  • Oppressive conduct

15.2 Keywords

  • injunction
  • shares
  • damages
  • Sitra Wood
  • Fineplas
  • interlocutory
  • application
  • lifting
  • setting aside

17. Areas of Law

Area NameRelevance Score
Injunctions90
Civil Procedure80
Damages60
Commercial Disputes30
Company Law30

16. Subjects

  • Injunctions
  • Civil Procedure
  • Shareholder Disputes