Ong v Lim: Trustee's Application for Inspection of Banker's Books in Bankruptcy
In Ong Jane Rebecca v Lim Lie Hoa, the General Division of the High Court of Singapore granted the applications of the joint and several private trustees of the estate of the deceased debtor, Mdm Lim Lie Hoa, for inspection of the relevant banker's books held by Citibank Singapore Limited, Oversea-Chinese Banking Corporation Limited, and United Overseas Bank Limited. The court, presided over by Goh Yihan JC, held that the principles applicable to an inquiry of a company's dealings under s 244 of the Insolvency, Restructuring and Dissolution Act 2018 also apply to the examination of a bankrupt and others under s 335 of the same Act. The applications were made to investigate the affairs and property of the Estate, specifically concerning the sale proceeds of a property and their deposit into personal bank accounts.
1. Case Overview
1.1 Court
General Division of the High Court1.2 Outcome
Applications Granted
1.3 Case Type
Bankruptcy
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
The High Court allowed the trustee's application for inspection of banker's books, holding that principles for company inquiries also apply to bankrupts.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Jane Rebecca Ong | Plaintiff | Individual | Applications Granted | Won | |
| Lim Lie Hoa also known as Lim Le Hoa also known as Lily Arief Husni | Defendant | Individual | Applications Granted | Lost |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Goh Yihan | Judicial Commissioner | Yes |
4. Counsels
4. Facts
- The applicants were the joint and several private trustees of the estate of the deceased debtor.
- The Deceased Debtor died on 8 August 2009.
- OSP was appointed as executor and trustee of the Estate.
- The plaintiff applied for an order for the administration in bankruptcy of the Estate.
- The applicants have been investigating the affairs and property of the Estate.
- Sale proceeds from 16 East Sussex were deposited into OSP’s personal bank accounts.
- OSP had not provided the applicants with copies of the bank statements.
5. Formal Citations
- Ong Jane Rebecca v Lim Lie Hoa, Bankruptcy No 2704 of 2020 (Summonses Nos 4139, 4144 and 4145 of 2022), [2023] SGHC 33
6. Timeline
| Date | Event |
|---|---|
| Last will and testament of the Deceased Debtor was dated | |
| Deceased Debtor died | |
| 16 East Sussex was devolved upon OSP | |
| One lot of 16 East Sussex was sold to third party purchasers | |
| One lot of 16 East Sussex was sold to third party purchasers | |
| 16 East Sussex was sub-divided into two lots | |
| Plaintiff applied for an order for the administration in bankruptcy of the Estate of the Deceased Debtor | |
| Administration order granted | |
| Applicants requested copies of bank statements | |
| Hearing of the parties | |
| Judgment issued |
7. Legal Issues
- Inspection of Banker's Books
- Outcome: The court granted the applications for inspection of the banker's books.
- Category: Procedural
- Related Cases:
- [2023] SGHC 33
- Trustee in Bankruptcy Powers
- Outcome: The court affirmed the trustee's power to investigate the affairs and property of the estate.
- Category: Substantive
- Applicability of Company Inquiry Principles to Bankruptcy
- Outcome: The court held that the principles in respect of an application under s 244 of the IRDA are also applicable in the context of an application under s 335.
- Category: Substantive
8. Remedies Sought
- Order for inspection of the relevant or specified bankers’ books
9. Cause of Actions
- Application for Inspection of Banker's Books
10. Practice Areas
- Bankruptcy Law
- Commercial Litigation
11. Industries
- Banking
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| In re Murjani (A Bankrupt) | English High Court | Yes | [1996] 1 WLR 1498 | United Kingdom | Cited as authority that there is no distinction between the principles governing the statutory investigative powers under ss 244 and 335 of the IRDA. |
| Ip Pui Lam Arthur and another v Alan Chung Wah Tang and others | Hong Kong Court of First Instance | Yes | [2015] HKCU 578 | Hong Kong | Cited for the principle that the functions of a trustee in bankruptcy and those of a liquidator in a company insolvency context are essentially the same. |
| Joint and Several Liquidators of Kong Wah Holdings Ltd v Grande Holdings Ltd | Hong Kong Court of Final Appeal | Yes | [2007] 1 HKLRD 116 | Hong Kong | Cited for the exercise of the court’s powers under s 221 of the Companies Ordinance. |
| Wang Aifeng v Sunmax Global Capital Fund 1 Pte Ltd and another | High Court | Yes | [2022] SGHC 271 | Singapore | Cited for the policy that underlies s 327(1)(c)(ii), which involves an insolvent individual, is the same as the policy which applies to the situation involving the grant of permission to continue or commence proceedings against an insolvent company. |
| Liquidator of W&P Piling Pte Ltd v Chew Yin What and others | High Court | Yes | [2004] 3 SLR(R) 164 | Singapore | Cited for the expansive approach towards s 285 of the Companies Act, which may be invoked to assist a liquidator in accumulating facts, information, and knowledge that would enable him to discharge his statutory functions. |
| PricewaterhouseCoopers LLP and others v Celestial Nutrifoods Ltd (in compulsory liquidation) | Court of Appeal | Yes | [2015] 3 SLR 665 | Singapore | Cited for setting out the two-stage test in relation to s 285 of the Companies Act. |
| Wee Soon Kim Anthony v UBS AG | Court of Appeal | Yes | [2003] 2 SLR(R) 91 | Singapore | Cited for the definition of 'bankers’ books' under s 170 of the EA. |
| La Dolce Vita Fine Dining Company Ltd v Zhang Lan and others | High Court | Yes | [2022] SGHC 89 | Singapore | Cited for the definition of 'bankers’ books' under s 170 of the EA. |
| Success Elegant Trading v La Dolce Vita Fine Dining Co Ltd and others and another appeal | High Court | Yes | [2016] 4 SLR 1392 | Singapore | Cited for the principle that 'legal proceeding' referred to in s 175(1) of the EA refers to the very application for disclosure, in which the applicant demonstrates a right to discovery independent of s 175. |
13. Applicable Rules
| Rule Name |
|---|
| No applicable rules |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| Insolvency, Restructuring and Dissolution Act 2018 | Singapore |
| Evidence Act 1893 | Singapore |
| Banking Act 1970 | Singapore |
15. Key Terms and Keywords
15.1 Key Terms
- Trustee in bankruptcy
- Banker's books
- Insolvency
- Bankruptcy
- Estate
- Private trustees
- Deceased debtor
- Administration order
- Relevant Bank Statements
15.2 Keywords
- Bankruptcy
- Trustee
- Banker's Books
- Inspection
- Insolvency
17. Areas of Law
| Area Name | Relevance Score |
|---|---|
| Insolvency Law | 90 |
| Bankruptcy | 90 |
| Evidence | 60 |
| Civil Procedure | 50 |
| Banking Law | 40 |
| Wills and Probate | 30 |
| Succession Law | 30 |
16. Subjects
- Bankruptcy Law
- Banking
- Civil Procedure