Boldtek Holdings Limited
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Case Significance
Re Boldtek Holdings Ltd [2024] SGHC 98 was an ex tempore judgment delivered by the General Division of the High Court of Singapore on 8 April 2024, in Originating Application No 170 of 2024 and Summons No 486 of 2024, with Goh Yihan J presiding. The applicant, Boldtek Holdings Limited, a public company limited by shares incorporated on 5 October 2012, applied for a judicial management order under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed) (the "IRDA"). Concurrently, in Summons No 486 of 2024, Boldtek applied for an interim judicial management order under s 92 of the IRDA in the event the court reserved its decision on the main application.
Goh Yihan J recorded that there had been no objection to either application as of the date of the hearing. Having heard counsel for Boldtek and considered the documents, the court allowed Originating Application No 170 of 2024 and made the judicial management order, with the result that there was no need to grant an interim order in Summons No 486 of 2024. Boldtek was represented by Aquinas Law Alliance LLP, with other firms appearing for interested parties including Allen & Gledhill LLP, Rajah & Tann Singapore LLP and Shook Lin & Bok LLP. The judgment referenced the Companies Act and the Insolvency, Restructuring and Dissolution Act.
Summary
Boldtek Holdings Limited, a public company listed on the Catalist of the Singapore Exchange whose shares had been suspended and whose group's construction and related businesses were affected by the COVID-19 pandemic and the troubles of a key subsidiary, applied for a judicial management order and, alternatively, an interim judicial management order. The General Division of the High Court considered whether to make the order under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 and whether the proposed judicial managers were appropriate. The court, noting no objection had been raised, granted the judicial management order and found the proposed judicial managers appropriate, making no order on the application for an interim order.
What was decided in Re Boldtek Holdings Ltd [2024] SGHC 98?
The General Division of the High Court, per Goh Yihan J on 8 April 2024, allowed Boldtek Holdings Limited's application in Originating Application No 170 of 2024 for a judicial management order under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018. There had been no objection to the application.
What happened to the interim judicial management application in [2024] SGHC 98?
Boldtek Holdings Limited had applied in Summons No 486 of 2024 for an interim judicial management order under s 92 of the IRDA in case the court reserved its decision. Because the court allowed the main application, Goh Yihan J found no need to grant the interim order and made no order on it.
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Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2024] SGHC 98)