Primerock v Wuu: Fraud Claim over Unpaid Loan & Alleged Conspiracy
Primerock Limited, a Hong Kong company, sued Wuu Khek Chiang George and East Coast Recreation Centre Pte Ltd (ECRC) in the High Court of Singapore for failure to repay a loan. Wuu and ECRC counterclaimed against Primerock, Timothy Lim Soo Bin, Edwin Foo, and Aseana Trade & Finance Limited, alleging illegal moneylending, conspiracy, and fraud. Primerock obtained summary judgment, and the counterclaim against Primerock and Edwin Foo was withdrawn. The court, presided over by Choo Han Teck J, dismissed the counterclaim by Wuu and ECRC against Timothy Lim and Aseana, finding Wuu's evidence incredible and the alleged fraud unsubstantiated.
1. Case Overview
1.1 Court
High Court1.2 Outcome
Counterclaim dismissed.
1.3 Case Type
Civil
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
Primerock sues Wuu for unpaid loan. Wuu counterclaims fraud and conspiracy. Court dismisses Wuu's counterclaim due to incredibility of evidence.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Primerock Limited | Plaintiff | Corporation | |||
| Wuu Khek Chiang George | Defendant, Plaintiff | Individual | Counterclaim Dismissed | Lost | |
| East Coast Recreation Centre Pte Ltd | Defendant, Plaintiff | Corporation | Counterclaim Dismissed | Lost | |
| Timothy Lim Soo Bin | Defendant | Individual | K. Sathinathan, S.K. Murthi | ||
| Aseana Trade & Finance Limited | Defendant | Corporation | K. Sathinathan, S.K. Murthi |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Choo Han Teck | Judge | Yes |
4. Counsels
| Counsel Name | Organization |
|---|---|
| K. Sathinathan | S.K. Kumar & Associates |
| S.K. Murthi | S.K. Kumar & Associates |
4. Facts
- Primerock sued George Wuu and ECRC for failure to repay a loan of US$375,000.
- ECRC paid US$415,000 to Aseana and related parties in connection with a proposed bank guarantee.
- George Wuu received a forged letter from Standard Chartered Bank regarding a US$10,000,000 bank guarantee.
- George Wuu transferred US$450,000 to an account in Turkey based on promises of a US$60,000,000 loan.
- George Wuu never received the promised bank guarantee or loan.
- The court found George Wuu's testimony to be incredible and unreliable.
5. Formal Citations
- Primerock Limited v Wuu Khek Chiang George and Another and Another Suit, Suit 1543/2001, [2003] SGHC 184
6. Timeline
| Date | Event |
|---|---|
| Aseana requested a non-refundable sum of US$25,000 being the ‘administrative service fee’ to be paid ‘upfront’ to Groupe Trinity. | |
| ECRC signed a contract with Aseana. | |
| US$25,000 paid in Singapore dollars by cash cheque to Timothy Lim. | |
| US$15,000 paid by telegraphic transfer from ECRC to Lord Philippe Sinclair. | |
| Timothy Lim received a telefax from Lord Sinclair. | |
| US$15,000 in the form of £7,500 by telegraphic transfer from ECRC to Barrington London Capital Ltd. | |
| Timothy Lim forwarded a copy, purportedly from the Volksbank, to George Wuu. | |
| Primerock granted loan of US$375,000 to ECRC. | |
| US$100,000 from ECRC by telegraphic transfer to Lord Philippe Sinclair. | |
| US$185,000 from ECRC by telegraphic transfer to Lord Philippe Sinclair. | |
| US$50,000 by cash cheque and paid to Timothy Lim. | |
| US$25,000 by cash cheque paid to Aseana and received by Edwin Foo. | |
| George Wuu received a letter from Timothy Lim’s secretary, Linda Ng. | |
| Choban handed George Wuu a letter purportedly from IS Bank, Istanbul. | |
| Decision Date |
7. Legal Issues
- Fraud
- Outcome: The court found that the plaintiffs in the counterclaim failed to prove fraud on the facts.
- Category: Substantive
8. Remedies Sought
- Return of US$415,000
- Return of US$450,000
9. Cause of Actions
- Fraud
- Breach of Contract
10. Practice Areas
- Commercial Litigation
11. Industries
- Finance
- Recreation
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| No cited cases | |||||
13. Applicable Rules
| Rule Name |
|---|
| No applicable rules |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| No applicable statutes | |
15. Key Terms and Keywords
15.1 Key Terms
- Bank guarantee
- Loan
- Fraud
- Forgery
- Counterclaim
15.2 Keywords
- loan
- fraud
- bank guarantee
- singapore
- contract
16. Subjects
- Contract Dispute
- Fraudulent Misrepresentation
17. Areas of Law
- Contract Law
- Fraud