Maybank Singapore Ltd v Papa Bakerz Pte Ltd: Winding-Up Order and Stay Application

Maybank Singapore Ltd filed a winding-up application against Papa Bakerz Pte Ltd. The High Court granted the winding-up order and dismissed Papa Bakerz's application for a stay of execution pending appeal. The court found that Papa Bakerz had engaged in dilatory tactics and failed to provide sufficient evidence to justify a stay.

1. Case Overview

1.1 Court

GENERAL DIVISION OF THE HIGH COURT of the republic of singapore

1.2 Outcome

Winding-up order granted; application for stay dismissed.

1.3 Case Type

Insolvency

1.4 Judgment Type

Grounds of Decision

1.5 Jurisdiction

Singapore

1.6 Description

Winding-up application by Maybank against Papa Bakerz. The court granted the winding-up order and dismissed the stay application, citing dilatory tactics.

1.7 Decision Date

2. Parties and Outcomes

Party NameRoleTypeOutcomeOutcome TypeCounsels
Maybank Singapore LtdClaimantCorporationJudgment for ClaimantWon
Papa Bakerz Pte LtdDefendantCorporationApplication DismissedLost

3. Judges

Judge NameTitleDelivered Judgment
Mohamed FaizalJudicial CommissionerYes

4. Counsels

Counsel NameOrganization
Ng Huan YongAdvent Law Corporation
Abdur RaheemAdvent Law Corporation
Patrick FernandezFernandez LLC
Mohamed Arshad Bin Mohamed TahirFernandez LLC
Lee Yun EnFernandez LLC

4. Facts

  1. Maybank extended credit facilities to Papa Bakerz.
  2. Papa Bakerz failed to repay $148,982.76 after a statutory demand.
  3. Maybank filed an application for a winding-up order.
  4. Papa Bakerz sought adjournments to propose settlement.
  5. Papa Bakerz defaulted on a proposed payment plan.
  6. Papa Bakerz sought a stay of the winding-up order pending appeal.
  7. Papa Bakerz claimed anticipated sales would enable debt repayment.

5. Formal Citations

  1. Maybank Singapore Ltd v Papa Bakerz Pte Ltd and another matter, Companies Winding Up No 315 of 2024 and Summons 152 of 2025, [2025] SGHC 21

6. Timeline

DateEvent
Claimant filed application for a winding-up order
Claimant served statutory demand on Defendant
First hearing of the application
Second hearing of the application
Winding-up order granted
Claimant filed summons for stay of execution
Summons for stay of execution dismissed

7. Legal Issues

  1. Winding-up Order
    • Outcome: The court granted the winding-up order and dismissed the application for a stay.
    • Category: Substantive
    • Sub-Issues:
      • Discretion to order winding up
      • Stay pending appeal

8. Remedies Sought

  1. Winding-up Order
  2. Stay of Execution

9. Cause of Actions

  • Debt Recovery
  • Winding Up

10. Practice Areas

  • Commercial Litigation
  • Insolvency
  • Winding-Up Proceedings

11. Industries

  • Food and Beverage
  • Banking

12. Cited Cases

Case NameCourtAffirmedCitationJurisdictionSignificance
RHB Bank Bhd v Bob TX Food Empire Pte Ltd and other mattersHigh CourtYes[2024] SGHC 305SingaporeCited for the general rule to grant a winding-up order once the prerequisites are fulfilled.
Lai Shit Har and another v Lau Yu ManCourt of AppealYes[2008] 4 SLR(R) 348SingaporeCited regarding the court's discretion under s 128(1) of the Act not to make a winding-up order.
Re Founder Information (Hong Kong) LtdCourt of First InstanceYes[2021] HKCFI 311Hong KongCited for the reasons proffered by creditors for supporting or opposing the winding-up application.
Re Lerthai Group LimitedCourt of First InstanceYes[2021] HKCFI 207Hong KongCited for the reasons proffered by creditors for supporting or opposing the winding-up application.
Sekhon and another v EdgintonN/AYes[2015] 1 WLR 4435N/ACited for whether there is a reasonable prospect of repayment, or of a successful arrangement being arrived at if the parties were afforded time to discuss repayment or an arrangement.
Sun Electric Power Pte Ltd v RCMA Asia Pte Ltd (formerly known as Tong Teik Pte Ltd)High CourtYes[2021] 2 SLR 478SingaporeCited for the viability of the company and the economic and social interests of the company’s employees, suppliers, shareholders, non-petitioning creditors, customers and other companies in the group enterprise.
Malayan Plant (Pte) Ltd v Moscow Narodny Bank LtdPrivy CouncilYes[1979–1980] SLR(R) 511N/ACited regarding the duty of the court to direct the winding up when a debt is established and not satisfied.
Metalform Asia Pte Ltd v Holland Leedon Pte LtdN/AYes[2007] 2 SLR(R) 268SingaporeCited for the creditor's entitlement ex debito justitiae to a winding-up order.
Strandore Invest A/S and others v Soh Kim WatHigh CourtYes[2010] SGHC 174SingaporeCited for the principles the court considers in deciding whether to exercise its discretion to grant a stay of execution pending appeal.
KTL Sdn Bhd v Azrahi Hotels Sdn BhdN/AYes[2003] 3 CLJ 49MalaysiaCited for special circumstances for which stays of winding-up orders have been granted.
Re A. & B.C. Chewing Gum Ltd; Topps Chewing Gum Incorporated v Coakley and othersN/AYes[1975] 1 WLR 579N/ACited to elucidate the reasons why stays of winding-up orders are usually not granted pending an appeal.

13. Applicable Rules

Rule Name
Rules of Court 2021

14. Applicable Statutes

Statute NameJurisdiction
Insolvency, Restructuring and Dissolution Act 2018Singapore

15. Key Terms and Keywords

15.1 Key Terms

  • Winding-up order
  • Statutory demand
  • Stay of execution
  • Dilatory tactics
  • Insolvency
  • Adjournment
  • Settlement proposal

15.2 Keywords

  • winding up
  • insolvency
  • stay of execution
  • Singapore
  • Maybank
  • Papa Bakerz

17. Areas of Law

Area NameRelevance Score
Insolvency Law95
Winding Up95
Litigation40
Civil Litigation30
Banking and Finance20

16. Subjects

  • Insolvency
  • Companies Law
  • Civil Procedure