Exim & Mfr Holdings Pte Ltd v Tan Yee Ling Ivy: Account Order & Payment for Misappropriated Dividends
In a suit before the General Division of the High Court of Singapore, Exim & Mfr Holdings Pte Ltd sued Tan Yee Ling Ivy, Kau Guo Hao, Wedding Day Pte Ltd, Lam Hui Ping Fiona, and Siah Chee Wee Gary for misappropriation of funds. Exim sought an account of dividend cheques totaling $631,285.62 that were diverted to Ivy and her associates instead of the intended recipients, Mr. Ng Sin Kwee and Mdm Lee Suan Ho. The court found that Ivy had misappropriated the funds and rejected her defenses of 'secret instructions' and 'cash payments'. The court ordered Ivy to pay Exim $631,285.62 and the costs of the taking of accounts.
1. Case Overview
1.1 Court
General Division of the High Court1.2 Outcome
Judgment for Plaintiff
1.3 Case Type
Civil
1.4 Judgment Type
Judgment
1.5 Jurisdiction
Singapore
1.6 Description
The High Court ordered Ivy to pay Exim $631,285.62 after finding she misappropriated dividend cheques. The court rejected her claims of secret instructions and cash payments.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Exim & Mfr Holdings Pte Ltd | Plaintiff | Corporation | Judgment for Plaintiff | Won | Chia Jin Chong Daniel, Tan Ei Leen, Nicole Thong Wen Teng |
| Tan Yee Ling Ivy (Chen Yiling) | Defendant | Individual | Payment Ordered | Lost | Walter Ferix Silvester, Tan Hoe Shuen |
| Kau Guo Hao | Defendant | Individual | Neutral | Neutral | |
| Wedding Day Pte Ltd | Defendant | Corporation | Default Judgment Entered | Default | |
| Lam Hui Ping Fiona | Defendant | Individual | Neutral | Neutral | |
| Siah Chee Wee Gary (Xie Zhiwei Gary) | Defendant | Individual | Neutral | Neutral | |
| Ng Sin Kwee | Third Party | Individual | Neutral | Neutral |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Andre Maniam | Judge of the High Court | Yes |
4. Counsels
| Counsel Name | Organization |
|---|---|
| Chia Jin Chong Daniel | Coleman Street Chambers LLC |
| Tan Ei Leen | Coleman Street Chambers LLC |
| Nicole Thong Wen Teng | Coleman Street Chambers LLC |
| Walter Ferix Silvester | Silvester Legal LLC |
| Tan Hoe Shuen | Silvester Legal LLC |
4. Facts
- Ivy was the Human Resource and Finance Manager of Exim.
- Ivy was in charge of Exim’s Finance Department and prepared dividend cheques.
- Ivy made out four dividend cheques to third-party payees instead of Mr. Ng and Mdm Lee.
- The cheque proceeds totaling $631,285.62 went to Ivy directly or indirectly.
- Ivy claimed Mr. Ng gave her secret instructions to make out the cheques as she did.
- Ivy claimed she paid Mr. Ng the $631,285.62 from her own cash.
- The court found Ivy's claims of secret instructions and cash payments unbelievable.
5. Formal Citations
- Exim & Mfr Holdings Pte Ltd v Tan Yee Ling Ivy and others, Suit No 209 of 2019, [2021] SGHC 263
- Ta Tun Electrical Wire & Cable (Singapore) Pte Ltd v Toh You Kang (Zhuo Youkang) and others, , HC/S 124/2018
6. Timeline
| Date | Event |
|---|---|
| Ivy began employment at Exim | |
| Cheque to RABH and Gary issued | |
| Cheque to RABH deposited | |
| Ivy received $50,000 from RABH | |
| Ivy received $17,601.60 from RABH | |
| Cheque to Gary deposited | |
| Gary paid Ivy $60,000 | |
| Gary paid Ivy $89,934 | |
| Cheque to Ivy and Wedding Day issued | |
| Cheque to Ivy deposited | |
| Ivy resigned from Exim | |
| Cheque to Wedding Day deposited | |
| Ivy's last day of work at Exim | |
| Exim sued Ivy and others | |
| Default judgment entered against Wedding Day | |
| Gary's Affidavit dated | |
| Trial began | |
| Trial concluded | |
| Judgment reserved |
7. Legal Issues
- Breach of Fiduciary Duty
- Outcome: The court found that Ivy, as a fiduciary, breached her duty by taking the cheque proceeds for herself.
- Category: Substantive
- Sub-Issues:
- Misappropriation of funds
- Failure to account
- Taking of Accounts
- Outcome: The court ordered Ivy to pay the amount certified due on the taking of accounts.
- Category: Procedural
8. Remedies Sought
- Account
- Monetary Damages
9. Cause of Actions
- Breach of Fiduciary Duty
- Misappropriation of Funds
10. Practice Areas
- Commercial Litigation
11. Industries
- No industries specified
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| Browne v Dunn | N/A | Yes | [1893] 6 R 67 | N/A | Cited regarding the rule that a witness must be cross-examined on a point before it can be argued that they should be disbelieved. |
| Goh Say Hun v Ooi Chit Lee | Court of Appeal | Yes | [1994] 1 SLR(R) 958 | Singapore | Cited for the principle that a trustee is obliged to make good any amount they have failed to account for, and an order for payment is appropriate. |
13. Applicable Rules
| Rule Name |
|---|
| Order 43 r 1 of the Rules of Court |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| Penal Code (Cap 224, 2008 Rev Ed) s 406 | Singapore |
15. Key Terms and Keywords
15.1 Key Terms
- Dividend cheques
- Misappropriation
- Fiduciary duty
- Secret instructions
- Cash payments
- Taking of accounts
- Third-party payees
15.2 Keywords
- misappropriation
- fiduciary duty
- account
- dividends
- Singapore
- High Court
16. Subjects
- Trusts
- Equity
- Fiduciary Duty
- Accounting
- Civil Litigation
17. Areas of Law
- Equity
- Remedies
- Account
- Trust Law
- Fiduciary Duty