Ng Giap Hon v Westcomb Securities: Breach of Contract & Conspiracy Claim over IPO Placement Commissions
In Ng Giap Hon v Westcomb Securities Pte Ltd, the High Court of Singapore dismissed Ng Giap Hon's claim against Westcomb Securities and others for breach of contract and conspiracy. Ng, a licensed remisier, alleged he was owed commissions on IPO placement shares allocated to two clients. The court found no breach of contract as no commission was charged by Westcomb Securities on the IPO shares, and no evidence of a conspiracy. The judgment was delivered on 2008-06-26 by Justice Choo Han Teck.
1. Case Overview
1.1 Court
High Court1.2 Outcome
Plaintiff's claim is dismissed with costs.
1.3 Case Type
Civil
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
Ng Giap Hon, a remisier, sued Westcomb Securities for breach of contract and conspiracy, claiming unpaid commissions on IPO placements. The court dismissed the claim.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Ng Giap Hon | Plaintiff | Individual | Claim Dismissed | Lost | Ragbir Singh Bajwa, Kelvin Lee Ming Hui |
| Westcomb Securities Pte Ltd | Defendant | Corporation | Judgment for Defendant | Won | David Chan Ming Onn, Georgina Lum Baoling |
| Westcomb Financial Group Ltd | Defendant | Corporation | Judgment for Defendant | Won | David Chan Ming Onn, Georgina Lum Baoling |
| Westcomb Capital Pte Ltd | Defendant | Corporation | Judgment for Defendant | Won | David Chan Ming Onn, Georgina Lum Baoling |
| Choo Chee Kong | Defendant | Individual | Judgment for Defendant | Won | David Chan Ming Onn, Georgina Lum Baoling |
| Tan Kah Koon | Defendant | Individual | Judgment for Defendant | Won | David Chan Ming Onn, Georgina Lum Baoling |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Choo Han Teck | Judge | Yes |
4. Counsels
| Counsel Name | Organization |
|---|---|
| Ragbir Singh Bajwa | Lee Shergill Partnership |
| Kelvin Lee Ming Hui | Lee Shergill Partnership |
| David Chan Ming Onn | Shook Lin & Bok |
| Georgina Lum Baoling | Shook Lin & Bok |
4. Facts
- The plaintiff was a licensed remisier and agent of the first defendant, a stock broking company.
- The plaintiff claimed commissions on placement shares in IPOs allocated to Sandt and Aktien.
- The agency agreement stipulated the plaintiff's commission as a percentage of the commission charged by the first defendant.
- The first defendant did not charge commission on the IPO shares allocated to Sandt and Aktien.
- Aktien opened an account with the first defendant, but the plaintiff claimed it should have been through him.
- The court found no evidence of a concerted plan of action by the defendants.
5. Formal Citations
- Ng Giap Hon v Westcomb Securities Pte Ltd and Others, Suit 193/2007, [2008] SGHC 101
6. Timeline
| Date | Event |
|---|---|
| Agency agreement signed between the plaintiff and the first defendant. | |
| Sandt, on behalf of Orchid Emarb Limited, opened a trading account with the first defendant through the plaintiff. | |
| Judgment reserved. |
7. Legal Issues
- Breach of Contract
- Outcome: The court found no breach of contract because no commission was charged by the first defendant on the IPO shares.
- Category: Substantive
- Sub-Issues:
- Implied term of good faith
- Entitlement to commission
- Tort of Conspiracy
- Outcome: The court found no evidence of a concerted plan of action by the defendants to support a claim of conspiracy.
- Category: Substantive
- Quantum Meruit
- Outcome: The court dismissed the claim based on quantum meruit because there was no breach of contract.
- Category: Substantive
8. Remedies Sought
- Monetary Damages
9. Cause of Actions
- Breach of Contract
- Tort of Conspiracy
- Quantum Meruit
10. Practice Areas
- Commercial Litigation
11. Industries
- Financial Services
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
- Remisier
- Agency Agreement
- Initial Public Offering
- Placement Shares
- Commission
- Good Faith
- Quantum Meruit
15.2 Keywords
- Remisier
- Breach of Contract
- Conspiracy
- IPO
- Commission
- Stock Broking
- Singapore
16. Subjects
- Contract Law
- Securities Law
- Financial Services
- Stock Broking
17. Areas of Law
- Contract Law
- Tort Law