KINGSMEN EXHIBITS PTE LTD v REGALRARE GEM MUSEUM PTE. LTD..

[2024] SGHC 275 High Court (General Division) 28 October 2024 • HC/CWU 121/2024 ( HC/SUM 2783/2024 ) • 5 min read

3 cases cited (2 SG, 1 foreign)

Key facts

Court	High Court (General Division)
Decided	28 October 2024
Judge	Goh Yihan
Charges / claim	Insolvency Law
Counsel	Havelock Law Corporation, Rajah & Tann Singapore LLP, Georgina Lai Li Yi, Ng Wan Yun Deborah, Tan Jin Song, Zhu Ming-Ren Wilson

Source: [2024] SGHC 275, High Court (General Division), decided 28 October 2024 — eLitigation. Updated 25 June 2026.

Catchwords

Insolvency Law — Winding up — Power of court to stay or terminate winding up — Application to terminate winding up of company — Section 186(1)(b) Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed)

Practice Areas

Insolvency Law

Judges (1)

Goh Yihan Delivered

Counsel (6)

Havelock Law Corporation Firm Rajah & Tann Singapore LLP Firm Georgina Lai Li Yi Counsel Applicant Ng Wan Yun Deborah Counsel Applicant Tan Jin Song Counsel Applicant Zhu Ming-Ren Wilson Counsel Respondent

Parties (2)

Kim Dang Dang Pte Ltd Applicant RegalRare Gem Museum Pte Ltd (in liquidation) Respondent

Case Significance

Kim Dang Dang Pte Ltd v RegalRare Gem Museum Pte Ltd (in liquidation) [2024] SGHC 275 was a decision of the General Division of the High Court delivered by Goh Yihan J on 28 October 2024, in Companies Winding Up No 121 of 2024 (Summons No 2783 of 2024). The application, HC/SUM 2783/2024, was taken out by Kim Dang Dang Pte Ltd to terminate the winding up of RegalRare Gem Museum Pte Ltd that had been ordered on 7 August 2024, the applicant being a shareholder of 15,000 out of 300,000 shares in RegalRare. The judgment was provided as a follow-up to Kingsmen Exhibits Pte Ltd v RegalRare Gem Museum Pte Ltd and another matter [2024] SGHC 238, in which Goh Yihan J had explained why the winding-up order was made, and addressed the court's power to stay or terminate a winding up under Section 186(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed). The background facts recorded that on 3 January 2024, Kingsmen Exhibits Pte Ltd served a statutory demand on RegalRare for the sum of $144,745.68. Havelock Law Corporation acted for the applicant and Rajah & Tann Singapore LLP for the respondent.

Summary

Kim Dang Dang Pte Ltd, a shareholder holding 15,000 of 300,000 shares in RegalRare Gem Museum Pte Ltd, applied to terminate the winding up of RegalRare that had been ordered on a creditor's petition, after the applicant paid the sums demanded by the petitioning creditor and entered into a deed of assignment with that creditor. The issue was whether the winding up should be terminated under s 186(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018. The court granted the application and terminated the winding up of RegalRare as of 24 October 2024, being satisfied as to its solvency, shareholder support, and the steps taken to prevent recurrence.

What did the court decide in Kim Dang Dang Pte Ltd v RegalRare Gem Museum Pte Ltd [2024] SGHC 275?

Goh Yihan J terminated the winding up of RegalRare Gem Museum Pte Ltd, ordered on 7 August 2024, on an application by Kim Dang Dang Pte Ltd, a holder of 15,000 of 300,000 shares, under section 186(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

What statutory demand featured in RegalRare Gem Museum's winding up [2024] SGHC 275?

The background facts record that on 3 January 2024, Kingsmen Exhibits Pte Ltd served a statutory demand on RegalRare Gem Museum Pte Ltd for the sum of $144,745.68. This judgment by Goh Yihan J followed his earlier decision in [2024] SGHC 238.