Re Sapura 1200 Ltd: Cross-Border Insolvency & Recognition of Foreign Proceedings
The General Division of the High Court of Singapore heard the originating application by Sapura 1200 Ltd, Mohd Anuar bin Taib, Chew Seng Heng, and Norzaimah binti Maarof, seeking recognition of the Malaysian Reorganisation Proceeding as a foreign main proceeding. The court granted the interim relief sought and the Recognition Application, recognizing the applicants as foreign representatives and issuing a stay against actions against the company's property.
1. Case Overview
1.1 Court
General Division of the High Court of the Republic of Singapore1.2 Outcome
Recognition Application granted; interim relief sought granted.
1.3 Case Type
Insolvency
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
Singapore court recognizes Malaysian Reorganisation Proceeding of Sapura 1200 Ltd as a foreign main proceeding, granting interim relief and stay against actions.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Sapura 1200 Ltd | Applicant | Corporation | Recognition Application granted | Won | Han Guangyuan Keith, Angela Phoon Yan Ling |
| Mohd Anuar bin Taib | Applicant | Individual | Recognition as foreign representative granted | Won | Han Guangyuan Keith, Angela Phoon Yan Ling |
| Chew Seng Heng | Applicant | Individual | Recognition as foreign representative granted | Won | Han Guangyuan Keith, Angela Phoon Yan Ling |
| Norzaimah binti Maarof | Applicant | Individual | Recognition as foreign representative granted | Won | Han Guangyuan Keith, Angela Phoon Yan Ling |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Aedit Abdullah | Judge of the High Court | Yes |
4. Counsels
| Counsel Name | Organization |
|---|---|
| Han Guangyuan Keith | Oon & Bazul LLP |
| Angela Phoon Yan Ling | Oon & Bazul LLP |
4. Facts
- Sapura 1200 Ltd is a direct subsidiary of Sapura Offshore Sdn Bhd.
- Sapura Offshore Sdn Bhd is a subsidiary of Sapura Energy Berhad.
- The Sapura Group applied to the Malaysia Court for an order to convene meetings of its creditors.
- The Sapura Group applied for an order to restrain all proceedings against the Sapura Group.
- The Malaysian Reorganisation Proceeding was extended until 11 March 2025.
- The Company applied for the Malaysian Reorganisation Proceeding to be recognised as a foreign main proceeding in Singapore.
- The vessel “Sapura 1200” was scheduled to arrive in Singapore on 7 July 2024.
5. Formal Citations
- Re Sapura 1200 Ltd, , [2024] SGHC 242
6. Timeline
| Date | Event |
|---|---|
| Sapura Group applied to the Malaysia Court for an order to convene meetings of its creditors. | |
| Order granted to convene meetings of creditors and restrain proceedings against the Sapura Group. | |
| Restraining order extended until this date. | |
| Judgment date | |
| Vessel scheduled to arrive in Singapore. | |
| Vessel scheduled to complete dry docking in Singapore. | |
| Applicants’ Written Submissions dated | |
| Judgment date | |
| Judgment date |
7. Legal Issues
- Recognition of foreign insolvency proceedings
- Outcome: The court granted the recognition of the Malaysian Reorganisation Proceeding as a foreign main proceeding.
- Category: Substantive
- Related Cases:
- [2023] 2 SLR 421
- Coordination of cross-border insolvency proceedings
- Outcome: Court-to-court communications were held with the Malaysian court to apprise the Malaysian court of the steps taken in Singapore.
- Category: Procedural
8. Remedies Sought
- Recognition of foreign proceeding
- Stay of proceedings
9. Cause of Actions
- No cause of actions
10. Practice Areas
- Insolvency
- Restructuring
11. Industries
- Energy
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| Ascentra Holdings, Inc (in official liquidation) and others v SPGK Pte Ltd | High Court | Yes | [2023] 2 SLR 421 | Singapore | Cited to support the definition of a “foreign proceeding” under Art 2(h) of the Model Law. |
13. Applicable Rules
| Rule Name |
|---|
| No applicable rules |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| Insolvency, Restructuring and Dissolution Act 2018 | Singapore |
| Section 252 of the Insolvency, Restructuring and Dissolution Act 2018 | Singapore |
15. Key Terms and Keywords
15.1 Key Terms
- Cross-border insolvency
- Foreign main proceeding
- Malaysian Reorganisation Proceeding
- UNCITRAL Model Law
- Court-to-court communication
- Draft JIN Admiralty Guidelines
- Sapura 1200 vessel
15.2 Keywords
- insolvency
- cross-border
- restructuring
- Sapura
- Singapore
- Malaysia
- recognition
- foreign proceeding
16. Subjects
- Insolvency Law
- Cross-Border Insolvency
- Restructuring
17. Areas of Law
- Insolvency Law
- Cross-border insolvency