Sarjit Singh Gill

Amidst the spate of recent decisions touching on the fraud exception and the tort of deceit, the Court of Appeal’s recent decision in Winson Oil Trading  Pte Ltd v Oversea- Chinese Banking Corporation and Standard  Chartered  Bank  (Singapore)  Limited [2024] SGCA 31 provided much needed clarification on the knowledge requirements for establishing fraud.

In 2014, the English Court of Appeal in Salford Estates (No 2) Ltd v Altomart Ltd (No 2) [2015] Ch 589 (“Salford Estates ”) held that a winding up petition brought based on a disputed debt subject to an arbitration agreement ought to be stayed or dismissed, save in “wholly exceptional circumstances ” (the “Salford Approach”).

On 1 December 2023, the Debt Collection Act 2022 (“ DCA”) came into operation. The DCA sets standards for entities and individuals involved in the activity of debt collection. The DCA regulates: (i) entities which carry on the business of collecting debts on behalf of other persons; and (ii) entities which are engaged in lending and collecting money owed to them, and which are already regulated by government agencies (“Already-Regulated Entities”).