In The STX Mumbai  SGCA 35, a five-member Court of Appeal sat to hear an admiralty case for the first time. The case involved a novel issue of an anticipatory breach of an executed contract. The significance is two-fold: under what circumstances may legal action be brought before the credit period expires and also, whether insolvency of a parent company has an impact on its subsidiary, possibly disregarding the corporate veils. This Update provides a summary of the decision.
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For further information, please contact:
Kah Wah Leong, Partner, Rajah & Tann