In re Fullerton Capital – Singapore court recognises BVI liquidation amid disputed COMI

This judgment is significant for cross-border insolvency practitioners, providing comprehensive analysis and guidance on several critical issues.

COMI Determination: The court’s in-depth examination of the Centre of Main Interests (COMI), where the location and nature of the debtor’s business has been found to be “indeterminate”, is particularly noteworthy.

Broad Discretion under the Model Law: The court demonstrated its wide-ranging powers to order disclosure and examination under the Model Law. Notably, these orders were granted even against parties involved in ongoing litigation with the company, ensuring comprehensive support for the liquidators’ investigations while imposing appropriate safeguards.

This decision underscores the robust framework provided by the UNCITRAL Model Law on Cross-Border Insolvency and its effective application in Singapore.

For more detailed insights, please refer to the full article on Global Restructuring Review here.

Access the full judgment here.

Ian Mah 
Associate
ian.mah@setialaw.com