The courts are generally reluctant to interfere with the outcomes of creditors’ meetings at which resolutions are voted on and passed. After all, such resolutions are decided and voted on by the creditors, thereby representing the wants of the majority.
In the case of Zipmex Pte v Zipmex Asia Pte and another and another matter [2024] SGHC 298 (Zipmex) however, the Singapore High Court has invalidated the outcome of a creditors’ meeting on the basis of substantive irregularities.
Brief Facts of Zipmex
The case of Zipmex concerned an application to, among other things, set aside resolutions passed at a creditors’ meeting. The respondent, which wholly owned the applicant, had conversely applied for, among other things, a…
