Telemedia Pacific Group v Yuanta: Stay of Execution Pending Appeal

In the Singapore International Commercial Court, Telemedia Pacific Group Limited and Hady Hartanto, the Plaintiffs, opposed Yuanta Asset Management International Limited and Yeh Mao-Yuan, the Defendants', application for a stay of execution of prior judgments pending appeal. The court, presided over by International Judge Patricia Bergin, dismissed the Defendants' summons on 7 March 2017, finding that the Defendants failed to establish special circumstances warranting a stay. The primary legal issue was whether there was a genuine risk that the Plaintiffs would be unable to repay the judgment monies if the Defendants succeeded on appeal. The court ordered the Defendants to pay the Plaintiffs' costs fixed at $10,000.

1. Case Overview

1.1 Court

Singapore International Commercial Court

1.2 Outcome

Summons dismissed.

1.3 Case Type

Civil

1.4 Judgment Type

Grounds of Decision

1.5 Jurisdiction

Singapore

1.6 Description

The Singapore court dismissed Yuanta's application for a stay of execution pending appeal, ordering payment of judgment sums. The key issue was whether there was a risk the plaintiffs could not repay the funds.

1.7 Decision Date

2. Parties and Outcomes

Party NameRoleTypeOutcomeOutcome TypeCounsels
Yuanta Asset Management International LimitedDefendantCorporationSummons dismissedLost
Yeh Mao-YuanDefendantIndividualSummons dismissedLost
Telemedia Pacific Group LimitedPlaintiffCorporationSummons dismissedWon
Hady HartantoPlaintiffIndividualSummons dismissedWon

3. Judges

Judge NameTitleDelivered Judgment
Patricia BerginInternational JudgeYes

4. Counsels

Counsel NameOrganization
Lim Joo ToonJoo Toon LLC
Philip LingWong Tan & Molly Lim LLC
Kam Kai QiWong Tan & Molly Lim LLC
Yam Wern-JhienRajah & Tann Singapore LLP
Josephine CheeRajah & Tann Singapore LLP
Paul TanRajah & Tann Singapore LLP

4. Facts

  1. Yuanta and Yeh sought a stay of execution of parts of Judgments dated 30 June 2016 and 7 December 2016.
  2. The orders in respect of which the stay is sought include payments of S$1,848,723.75 and S$6,464,839.37 by the Defendants to the Plaintiffs.
  3. The Defendants argued that there was a risk they would not be able to recover the monies from the Plaintiffs if they succeeded on appeal.
  4. The Plaintiffs are not residents of Singapore, and Mr. Hartanto has been implicated in past questionable transactions.
  5. The Plaintiffs proposed that the judgment monies be paid into Court pending the determination of the appeal, but the Defendants did not accept the proposal.
  6. The Defendants relied on a Report prepared by Ernst & Young Advisory Pte Ltd regarding questionable transactions involving Mr. Hartanto.
  7. Mr. Hartanto was reprimanded by the Singapore Exchange for his role in "round-tripping of money" in a listed company.

5. Formal Citations

  1. Telemedia Pacific Group Ltd and another v Yuanta Asset Management International Ltd and another, Suit No 2 of 2015 (Summons No 3 of 2017), [2017] SGHC(I) 03

6. Timeline

DateEvent
Summons No 3 of 2017 filed
First Judgment dated
Second Judgment dated
Civil Appeal No 189 of 2016 filed
Affidavit of Hady Hartanto dated
Affidavit of Yeh Mao-Yuan dated
Plaintiffs' written submissions filed
Defendants' written submissions filed
Application heard
Order dismissing the Summons made
Judgment date
Ernst & Young Advisory Pte Ltd Report dated
Police Report lodged
Magistrate’s Complaint made

7. Legal Issues

  1. Stay of Execution
    • Outcome: The court dismissed the application for a stay of execution.
    • Category: Procedural
    • Related Cases:
      • [1991] 2 SLR(R) 869
      • [1999] 1 SLR(R) 1053
      • [2010] SGHC 174
      • [2010] SGHC 269
      • [2016] 3 SLR 887

8. Remedies Sought

  1. Stay of execution

9. Cause of Actions

  • No cause of actions

10. Practice Areas

  • Commercial Litigation

11. Industries

  • No industries specified

12. Cited Cases

Case NameCourtAffirmedCitationJurisdictionSignificance
Telemedia Pacific Group and another v Yuanta Asset Management International Limited and anotherSingapore International Commercial CourtYes[2016] SGHC(I) 03SingaporeCited as the First Judgment for which a stay of execution was sought.
Telemedia Pacific Group and another v Yuanta Asset Management International Limited and anotherSingapore International Commercial CourtYes[2016] SGHC(I) 06SingaporeCited as the Second Judgment for which a stay of execution was sought.
Lee Sian Hee (trading as Lian See Hee Pork Trader) v Oh Kheng Soon (trading as Ban Hon Trading Enterprise)UnknownYes[1991] 2 SLR(R) 869SingaporeCited for the principles applicable to stay of execution applications.
Lian Soon Construction Pte Ltd v Guan Qian Realty Pte LtdUnknownYes[1999] 1 SLR(R) 1053SingaporeCited for the principles applicable to stay of execution applications.
Strandore Invest A/S and Others v Soh Kim WatHigh CourtYes[2010] SGHC 174SingaporeCited for the principles applicable to stay of execution applications, specifically regarding non-residence as a special circumstance.
The “Shen Ming Hong 7”High CourtYes[2010] SGHC 269SingaporeCited for the principle that 'special circumstances' include where it may be impossible to reverse the execution of the judgment.
Huang Li v Hady Hartanto and othersHigh Court of Hong Kong SARYes[2015] HKCFI 714Hong KongCited by the Defendants to support their claim that Mr. Hartanto breached a contract with a potential investor; however, the court notes that the judgment only records allegations and does not make findings against Mr. Hartanto.
Viet Hai Petroleum Corp v Ng Jun Quan and another and another matterUnknownYes[2016] 3 SLR 887SingaporeCited for the principle that a judgment creditor being a foreign company is not a special circumstance warranting a stay.

13. Applicable Rules

Rule Name
No applicable rules

14. Applicable Statutes

Statute NameJurisdiction
Criminal Procedure Code (Cap 68, 2012 Rev Ed)Singapore
Reciprocal Enforcement of Foreign Judgments Act (Cap 265, 2001 Rev Ed)Singapore

15. Key Terms and Keywords

15.1 Key Terms

  • Stay of execution
  • Special circumstances
  • Nugatory appeal
  • Questionable transactions
  • Non-resident
  • Dissipation of assets
  • Indemnity costs

15.2 Keywords

  • Stay of execution
  • Appeal
  • Singapore International Commercial Court
  • Civil Procedure
  • Judgment
  • Costs

17. Areas of Law

Area NameRelevance Score
Stay of Execution90
Civil Procedure75
Appeal60
Litigation50
Arbitration25

16. Subjects

  • Civil Procedure
  • International Commercial Law