Standard Chartered Bank v Construction Professional Resources: Stay of Winding-Up Order
In the High Court of Singapore, Standard Chartered Bank (Singapore) Limited obtained a winding-up order against Construction Professional Resources Pte Ltd. The defendant applied to stay the winding-up order after paying the debt. The court, presided over by Choo Han Teck J, adjourned the application to be heard with any application for the winding-up order to be set aside, noting the legal complexities of staying versus setting aside such orders.
1. Case Overview
1.1 Court
High Court of the Republic of Singapore1.2 Outcome
Application adjourned for hearing with any application to set aside the winding-up order.
1.3 Case Type
Insolvency
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
The High Court considered the stay of a winding-up order for Construction Professional Resources after its debt to Standard Chartered Bank was paid.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Standard Chartered Bank (Singapore) Limited | Plaintiff | Corporation | Application Adjourned | Neutral | |
| Construction Professional Resources Pte Ltd | Defendant | Corporation | Application Adjourned | Neutral |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Choo Han Teck | Judge | Yes |
4. Counsels
4. Facts
- Construction Professional Resources Pte Ltd was incorporated on 3 March 2010.
- The company carried on the business of building construction and consultancy services.
- Standard Chartered Bank (Singapore) Limited obtained a winding-up order against the company on 10 May 2019.
- The winding-up order was based on an unpaid debt owed by the company to the bank.
- The company subsequently paid the debt to the bank.
- The company applied to have the winding-up order stayed sine die.
5. Formal Citations
- Standard Chartered Bank (Singapore) Ltd v Construction Professional Resources Pte Ltd, Companies Winding Up No 307 of 2018, [2019] SGHC 168
6. Timeline
| Date | Event |
|---|---|
| Construction Professional Resources Pte Ltd incorporated | |
| Winding-up order obtained by Standard Chartered Bank | |
| Application to stay winding-up order filed | |
| Hearing date | |
| Judgment date |
7. Legal Issues
- Stay of Winding-Up Order
- Outcome: The court adjourned the application for a stay to be heard with any application to set aside the winding-up order.
- Category: Procedural
- Sub-Issues:
- Conditions for granting a stay
- Effect of stay on company's powers
- Setting Aside Winding-Up Order
- Outcome: The court noted that the company itself has no locus standi to apply and that an application should be made by either the creditor or the liquidator under a fresh Originating Summons.
- Category: Procedural
- Sub-Issues:
- Availability of remedy
- Locus standi to apply
8. Remedies Sought
- Stay of Winding-Up Order
- Setting Aside Winding-Up Order
9. Cause of Actions
- Debt Recovery
- Winding-Up
10. Practice Areas
- Winding-Up
- Commercial Litigation
11. Industries
- Construction
- Banking
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| Interocean Holdings Group (BVI) Ltd v Zi-Techasia (Singapore) Pte Ltd (in liquidation) | Singapore Court of Appeal | Yes | [2014] 2 SLR 485 | Singapore | Cited for the proposition that a company, once wound up, cannot have the winding-up order rescinded or set aside, and that the only recourse is to stay the order permanently. |
| Krextile Holdings Pty Ltd v Widdows; Re Brush Fabrics Proprietary Limited | Supreme Court of Victoria | Yes | [1974] VR 689 | Australia | Cited regarding the interpretation of s 243 of the Companies Act 1961 (Victoria), which is in pari materia with s 279 of the Singapore Companies Act. |
| Re Oriental Bank Corporation | Supreme Court of Victoria | Yes | [1884] Vic Law Rp 24 | Australia | Cited regarding the effect of a perpetual stay of proceedings on the winding-up process. |
| Re Western of Canada Oil, Lands and Works Co. | N/A | Yes | [1874] WN 148 | N/A | Cited regarding the effect of a perpetual stay of proceedings on the winding-up process. |
| Re Stephen Walters and Sons Ltd | N/A | Yes | (1926) 70 Sol Jo 953 | N/A | Cited regarding the effect of a perpetual stay of proceedings on the winding-up process. |
| Re South Barrule Slate Quarry Co. | N/A | Yes | (1869) LR 8 Eq 688 | N/A | Cited regarding the effect of a perpetual stay of proceedings on the winding-up process. |
| Re Telescriptor Syndicate, Ltd. | N/A | Yes | [1903] 2 Ch 174 | N/A | Cited regarding the effect of a perpetual stay of proceedings on the winding-up process. |
| Austral Brick Co Pty Ltd v Falgat Constructions Pty Ltd | N/A | Yes | (1990) 2 ACSR 766 | N/A | Cited for the meaning of a stay order in the context of winding-up proceedings. |
13. Applicable Rules
| Rule Name |
|---|
| O 92 r 4 of the Rules of Court (Cap 322, R 5, 2014 Rev Ed) |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| Companies Act (Cap 50) | Singapore |
| Companies Act 1961 (No 6839 of 1961) (Victoria) | Australia |
| Companies Act 2016 (No 777 of 2016) (M’sia) s 493 | Malaysia |
15. Key Terms and Keywords
15.1 Key Terms
- Winding-Up Order
- Stay of Proceedings
- Liquidator
- Companies Act
- Inherent Power of Court
- Locus Standi
15.2 Keywords
- winding up
- stay of order
- companies act
- insolvency
- singapore
17. Areas of Law
| Area Name | Relevance Score |
|---|---|
| Winding Up | 95 |
| Company Law | 70 |
| Civil Procedure | 30 |
16. Subjects
- Insolvency
- Corporate Law
- Civil Procedure