Unpacking Directors’ Duties to Creditors: A Close Look at the OP3 International Decision

15 Apr 2024 CaseWatch

The Court of Appeal has, in Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10, comprehensively considered the contours of a director’s duty to consider the interests of creditors in certain circumstances (Creditor Duty).

In this important decision, the apex court examined when the Creditor Duty first becomes engaged as well as the nature, scope and content of the duty. It also set out the approach that the court should take when faced with a claim that a director has breached the Creditor Duty.

This update takes a close look at the Creditor Duty.

If you would like information or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:

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Partner – Restructuring & Insolvency
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TAN Kai Yun
Partner – Restructuring & Insolvency
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Co-Head – Commercial & Corporate Disputes Practice
Co-Head – Corporate Governance & Compliance
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Kevin HO
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