[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.
