Monday, 21 January 2019

Singapore: service of garnishee order nisi did not make creditor secured

The Court of Appeal gave judgment earlier this month in SCK Serijadi Sdn Bhd v Artison Interior Pte Ltd [2019] SGCA 5. A copy of the judgment is available here (pdf) and a summary is available here. The decision is an important one in which the court explained why the service of a garnishee order nisi did not render the judgment creditor a 'secured creditor' for the purposes of sections 299(2) and 334(1) of the Companies Act, 2006 Rev Ed, Cap 50.

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