Liquidators of Natural Fuel Pte Ltd v Power Knight Pte Ltd and others

Judith Prakash J:

[1] This summons came before me as an application by Tam Chee Chong and Lim Loo Khoon (collectively “the Liquidators”) as the liquidators of Natural Fuel Pte Ltd (“the Company”) which was compulsorily wound-up by an order of court made on 23 October 2009. The respondents to the application are Power Knight Pte Ltd (“Power Knight”), a company that holds a debenture executed by the Company on 13 May 2008, and Ewe Pang Kooi and Farooq Ahmad Mann (collectively “the Receivers”) who were appointed by Power Knight as receivers and managers of the Company in September 2009. Power Knight and the Receivers are hereafter sometimes collectively referred to as “the Respondents”.

[2] By the summons, the Liquidators ask for the following orders:

[3] This summons was filed on 22 December 2009. On 28 January 2010, Power Knight filed an originating summons, OS 111 of 2010 (“OS 111”), naming the Company and the Liquidators as defendants. By OS 111, Power Knight asked for orders that the caveats lodged over the Property by the Company and the Liquidators be removed. Granting of those orders would mean that the Liquidators would no longer have a basis on which to make the application herein.