Park Hotel Management and Allen Law’s legal battle results in landmark High Court judgment for insolvency law
In a related claim, CapitaLand unit Ascendas Hospitality Reit, another Park Hotel creditor, will not be able to recover the full sum it seeks from liquidators
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[SINGAPORE] Former Park Hotel Management (PHMPL) director Allen Law, who is being sued by liquidators of the company, has failed to reduce his potential liabilities by S$6.8 million after the High Court rejected his application to amend his defence and introduce a counterclaim.
In a landmark judgment last year, Justice Goh Yihan dismissed Law’s application on the basis that the counterclaims Law sought to introduce did not fall within the scope of insolvency set-offs.
Justice Goh ruled that insolvency set-offs are the only form of set-offs that can be advanced against an insolvent company without requiring permission from the court.
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