Inter-pacific Petroleum Pte Ltd v Goh Jin Hian

Insolvency Law — Winding up — Liquidator — Role of liquidator in adversarial proceedings; Companies — Directors — Duties — Relief from liability — Section 391 of the Companies Act 1967 (2020 Rev Ed); Banking — Quincecare duty — Juridical basis of the Quincecare duty — Whether bank breached its Quincecare duty; Damages — Existence of loss — Whether insolvent company can suffer loss despite no change in net asset position; Companies — Directors — Duties — Duty of skill, care and diligence — Section 157(1) of the Companies Act 1967 (2020 Rev Ed); Insolvency Law — Winding up — Proof of debt — Whether insolvent company incurs liability before adjudication of proof of debt; Banking — Letters of credit — Fraud exception — Irregularities on the face of bills of lading — Whether fraud exception established; Banking — Letters of credit — Nullity exception — Irregularities on the face of bills of lading — Whether nullity exception established; Damages — Existence of loss — Liability to third party — Whether discharge of liability to third party necessary for claimant to suffer loss; Companies — Directors — Duties — Duty to take into account interests of creditors — Whether test is subjective or part subjective, part-objective