The High Court has quashed a moneylender’s bid to bankrupt a debtor who had borrowed $350,000 on an annual interest rate of 240 per cent – a ruling that could cause ripples in the moneylending industry. Mr Ang Boon Kim, sole proprietor of ABK Leasing, had applied to bankrupt company director Goh Meng Leong, who...Read More

The claim against Mr Ong for breach of warranty of authority also failed. Judicial Commissioner Tan pointed out that Mr Baizanis did not transact directly with Mr Ong, but with Zee, and Mr Ong had made no warranty regarding Zee’s authority. Furthermore, the court found that Mr Baizanis failed to demonstrate that the loss of...Read More

SINGAPORE – The founder of local skincare brand Klarity, who was sued by four investors for diverting revenue and profits away for her own benefit, has admitted that she was liable to pay damages for breaching her duties to the company. The issue before the High Court now is how much damages Ms Karine Estelle...Read More