The Avoidance of Unregistered Charge and Extension of Time to Register

Singapore Academy of Law Journal, Vol. 26, 2014

16 Pages Posted: 30 Jan 2015

See all articles by Meng Seng Wee

Meng Seng Wee

National University of Singapore (NUS) - Faculty of Law; National University of Singapore (NUS) - Centre for Law & Business

Date Written: August 30, 2014

Abstract

This paper argues that the decision of the Singapore Court of Appeal in Media Development Authority of Singapore v. Sculptor Finance (MD) Ireland Ltd [2014] 1 SLR 733 in effectively overruling Ng Wei Teck Michael v. Oversea-Chinese Banking Corp Ltd [1998] 1 SLR(R) 778 has provided much needed clarification on the concept of commencement of winding up. But the concept of the statutory trust over the assets of a company in liquidation that the latter espoused has some merit in providing the proprietary basis for the avoidance of an unregistered charge against a chargor in liquidation. It also argues that the English practice on the registration of charges out of time where the chargor’s insolvent liquidation is likely has failed to give sufficient weight to the avoidance policy underlying registrable but unregistered charges.

Keywords: Commencement of winding up; Registration of charges; Out of time registration; Avoidance law

JEL Classification: K22

Suggested Citation

Wee, Meng Seng, The Avoidance of Unregistered Charge and Extension of Time to Register (August 30, 2014). Singapore Academy of Law Journal, Vol. 26, 2014, Available at SSRN: https://ssrn.com/abstract=2557882

Meng Seng Wee (Contact Author)

National University of Singapore (NUS) - Faculty of Law ( email )

469G Bukit Timah Road
Eu Tong Sen Building
Singapore, 259776
Singapore

National University of Singapore (NUS) - Centre for Law & Business ( email )

Eu Tong Sen Building
469G Bukit Timah Road
259776
Singapore

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
170
Abstract Views
1,313
rank
212,697
PlumX Metrics