Singapore liquidated damages penaltiesloan guarantee

iTronic Holdings Pte Ltd v Tan Swee Leon

[2016] 3 SLR 663

JurisdictionSingapore

CourtSingapore High Court

Year2016

StatusBinding authority

Key Principle

The SGHC held that directors who allow the company to trade while insolvent may be personally liable under s.339(3) of the Companies Act for fraudulent trading; the test requires actual dishonesty, not merely negligence.

Area of Law

company

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