H&C S Holdings v Mount Eastern: Interim Measures & Dissipation of Assets in Arbitration

H&C S Holdings Pte Ltd applied to the High Court of Singapore for interim measures against Mount Eastern Holdings Resources Co., Limited, seeking to secure funds related to an ongoing arbitration (Arb 223) and prevent the dissipation of assets. The application was made in connection with a separate, completed arbitration (Arb 200) where Mount Eastern had obtained a favorable award. Kan Ting Chiu SJ dismissed the application, finding insufficient evidence to justify the requested relief and that some of the prayers sought were outside the court's powers.

1. Case Overview

1.1 Court

High Court

1.2 Outcome

Application dismissed with costs.

1.3 Case Type

Civil

1.4 Judgment Type

Grounds of Decision

1.5 Jurisdiction

Singapore

1.6 Description

H&C S Holdings' application for interim measures to secure funds in an arbitration was dismissed due to insufficient evidence of asset dissipation.

1.7 Decision Date

2. Parties and Outcomes

Party NameRoleTypeOutcomeOutcome TypeCounsels
H&C S Holdings Pte LtdApplicantCorporationApplication DismissedLost
Mount Eastern Holdings Resources Co., LimitedRespondentCorporationApplication DismissedWon

3. Judges

Judge NameTitleDelivered Judgment
Kan Ting ChiuSenior JudgeYes

4. Counsels

Counsel NameOrganization
Peter GabrielGabriel Law Corporation
Manoj NandwaniGabriel Law Corporation
Christine OngGabriel Law Corporation
Ker YanguangMorgan Lewis Stamford LLC
Daniel Chia Hsiung WenMorgan Lewis Stamford LLC

4. Facts

  1. H Holdings and Mount Eastern are counterparties in two arbitration proceedings.
  2. Arb 200 was completed with a Final Award in favor of Mount Eastern.
  3. H Holdings applied to set aside the Final Award in Arb 200.
  4. H Holdings sought interim measures to secure funds related to Arb 223.
  5. H Holdings alleged a risk of dissipation of assets by Mount Eastern.
  6. Mount Eastern owed two creditors a total sum of US$2,900,093.09.
  7. Mount Eastern Holdings (Hong Kong) Co Limited was wound up by a creditor.

5. Formal Citations

  1. H&C S Holdings Pte Ltd v Mount Eastern Holdings Resources Co., Limited, HC/Originating Summons No 1035 of 2015, [2015] SGHC 323

6. Timeline

DateEvent
Arbitration No. 223 of 2013 commenced
Arbitration No. 200 of 2013 commenced
Mount Eastern Holdings (Hong Kong) Co Limited was wound up by a creditor
Final Award 48 of 2015 issued in favour of Mount Eastern
Assistant Registrar made orders for sums to be paid into court
Payment made into court pursuant to DRI 102 and 103 of 2015
H Holdings applied to court in OS 870 of 2015 to aside the final award
Application dismissed with costs

7. Legal Issues

  1. Dissipation of Assets
    • Outcome: The court found insufficient evidence to support the claim of asset dissipation.
    • Category: Substantive
  2. Interim Measures
    • Outcome: The court determined that the prayers sought were either deficient, defective, or outside the court's powers.
    • Category: Procedural

8. Remedies Sought

  1. Order that the award in arbitral proceedings is not rendered ineffectual by the dissipation of assets
  2. Order that the amount in dispute in Arbitration No. 223 of 2013 is secured
  3. Order that monies paid into Court remain in Court pending the determination of the final award in Arbitration No. 223 of 2013
  4. Interim injunction restraining the Respondent from obtaining any payment out of this Court from the monies paid by the Applicant into this Court

9. Cause of Actions

  • No cause of actions

10. Practice Areas

  • Arbitration
  • Commercial Litigation

11. Industries

  • No industries specified

12. Cited Cases

Case NameCourtAffirmedCitationJurisdictionSignificance
No cited cases

13. Applicable Rules

Rule Name
No applicable rules

14. Applicable Statutes

Statute NameJurisdiction
International Arbitration Act (Cap 143A, 2002 Rev Ed)Singapore
International Arbitration Act (Chapter 143A, 2007 Rev Ed.)Singapore

15. Key Terms and Keywords

15.1 Key Terms

  • Interim Measures
  • Dissipation of Assets
  • Arbitration
  • International Arbitration Act
  • Final Award
  • Security for Award

15.2 Keywords

  • arbitration
  • dissipation of assets
  • interim measures
  • singapore
  • high court

17. Areas of Law

Area NameRelevance Score
International Arbitration80
Arbitration75
Interim injunctions60
Judgments and Orders50
Commercial Disputes40

16. Subjects

  • Arbitration
  • Civil Procedure
  • Insolvency