These were the proceedings in Originating Summons No 808 of 2011, which was determined at first instance on 4 October 2012 (see Pacific & Orient Insurance Co Bhd (formerly known as Pacific & Orient Insurance Co Sdn Bhd) v Motor Insurers’ Bureau of Singapore [2013] 1 SLR 341 (“Pacific & Orient”).
In the High Court of the Republic of Singapore [1998] SGHC 58Suit 224 /1991BetweenCanadian Pacific (Bermuda) Ltd… PlaintiffAndNederkoorn Pte LtdAnother… Defendantgrounds of decisionCivil Procedure — Mareva injunctions; Companies; Contract — Mistake; Trusts — Breach of trustThis judgment is subject to final editorial corrections approved by the court and/or redaction pursuant to the ...
(A) Based on probable cause and that the lien amount accurately reflects the reasonable charges authorized and accruing under subsection (1) of this section, then the court shall deny the petition, award reasonable attorney fees to the respondents and direct the foreclosure to proceed.
However, even if the use of the word `pledge` is not appropriate for shares, one has to read the document as a whole to determine its effect - see Charnley`s case [1924] 1 KB 341 at p 441 where the word `demise` was inappropriately used in relation to chattels but the court nevertheless held that the instrument did create a charge over the ...