Beckkett Pte Ltd v Deutsche Bank AG: Discovery of Documents and Valuation of Pledged Shares
In Beckkett Pte Ltd v Deutsche Bank AG, the High Court of Singapore heard an appeal regarding an order for discovery of documents. Beckkett Pte Ltd sued Deutsche Bank AG for selling pledged shares at an undervalue after Asminco defaulted on a loan. The court dismissed the appeal, finding that the documents related to the valuation of the shares were relevant to both the issue of liability and damages.
1. Case Overview
1.1 Court
High Court1.2 Outcome
Appeal Dismissed
1.3 Case Type
Civil
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
Appeal regarding discovery of documents related to the valuation of pledged shares. The court found the documents relevant to both liability and damages.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Deutsche Bank AG | Defendant, Appellant | Corporation | Appeal Dismissed | Lost | |
| Beckkett Pte Ltd | Plaintiff | Corporation | Appeal Dismissed | Lost | |
| PT Dianlia Sety Amukti | Other | Corporation |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Kan Ting Chiu | Judge | Yes |
4. Counsels
| Counsel Name | Organization |
|---|---|
| Loong Tse Chuan | Allen and Gledhill |
| Andrew Chan | Allen and Gledhill |
| Ronald Choo | Rajah and Tann |
4. Facts
- The Company pledged its shares in two companies to the Bank as security for a loan to Asminco.
- Asminco defaulted on the repayment of the loan.
- The Bank sold the Company’s pledged shares.
- The Company sued the Bank for selling the shares at an undervalue.
- An assistant registrar ordered the discovery of the supporting material to an Information Summary known as “Project Newcastle”.
5. Formal Citations
- Beckkett Pte Ltd v Deutsche Bank AG and Another, Suit 326/2004, RA 321/2005, [2006] SGHC 26
6. Timeline
| Date | Event |
|---|---|
| Assistant registrar ordered the Bank to give discoveries. | |
| Senior assistant registrar ordered that the Company’s claim for damages be tried after the determination of the issue of liability. | |
| Judgment issued |
7. Legal Issues
- Discovery of documents
- Outcome: The court held that the documents were relevant to both liability and damages and ordered discovery.
- Category: Procedural
- Sub-Issues:
- Relevance of information to the issue at hand
8. Remedies Sought
- Damages based on the value of the shares
9. Cause of Actions
- Selling shares at an undervalue
10. Practice Areas
- Commercial Litigation
11. Industries
- Banking
- Finance
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
- Discovery of documents
- Pledged shares
- Valuation
- Project Newcastle
- Liability
- Damages
15.2 Keywords
- Discovery
- Documents
- Valuation
- Shares
- Pledge
- Deutsche Bank
- Beckkett
17. Areas of Law
| Area Name | Relevance Score |
|---|---|
| Civil Procedure | 75 |
| Pledge of Shares | 70 |
| Commercial Disputes | 60 |
| Banking and Finance | 60 |
| Contract Law | 50 |
| Property Law | 40 |
| Disclosure Obligations | 40 |
| Guarantee | 30 |
| Company Law | 30 |
16. Subjects
- Civil Procedure
- Banking Law
- Securities Law