Lawlines Vol 10 Issue 1 - eOASIS - Rajah & Tann LLP

Vol 10 Issue 1 June 2008 • Rajah & Tann LLP’s Bi-Annual Journal on articles of current interest, features, and legal developmentsIN THIS ISSUE:A Round-Up Of LatestDevelopments In TheFirst Half Of 2008Rajah & Tann LLP Hosts9 th Lunchtime SeminarSeriesTax, Private Wealth &Trusts PracticeCourt Of Appeal DeliversJudgment On The LTA-Komoco Motors DisputeInsider Trading And TheVexed QuestionOf General AvailabilityCourts And Arbitration -A Question Of Balance?Recent Developments InSingapore LawDisclosure OfConfidential InformationBy ProfessionalIn The Pursuit Of ItsLegitimate InterestsPublic PrivatePartnership Projects– The ProcessOpen Source In ITContractsDianlia. The case against Deutsche Bank is that in the enforcement of the security, Deutschebreached its duties as a pledgor / guarantor of the shares, and it sold the shares significantly belowtheir true market value. Thus, it should pay Beckkett the difference between the current marketvalue of the shares and the sale price. The case against Dianlia is that it procured and thereforeknew of Deutsche Bank’s breaches. Accordingly, the sale of the shares to Dianlia should be setaside. Beckkett also alleges that there was a conspiracy between Deutsche Bank and Dianlia toinjure Beckkett. After a year-long trial, the Singapore High Court held that Deutsche Bank hadbreached its duties but refused to award substantial damages. It did not find that Dianlia knew ofthe breaches or was part of a conspiracy. The appeal by Beckkett was against the latter findings.The Court of Appeal has reserved judgment.Menon, Aurill Kam, Dawn, Disa Sim, Lee Eng Beng SC, Tammy Low, Paul, Preeti Bhagnani andLoke Pei Shan are acting for BNP Paribas in presenting a statutory demand on Jurong Shipyard PteLtd (‘JSPL’) for the payment of amounts due pursuant to the termination of a number of foreignexchange derivative transactions. JSPL filed an application to restrain presentation of the windingup petition on the basis that the transactions were unauthorised and not valid or binding. Theamount is approximately US$51,000,000.Andre Yeap SC, Dawn Tan and Danny Ong are acting for a subsidiary of CapitaLand Limited, AnkeritePte Ltd (‘Ankerite’), in a dispute involving the collective sale of Gillman Heights Condominium(‘Gillman Heights’). The Strata Titles Board (‘STB’) approved the application by the majority ownersfor an order for the collective sale of Gillman Heights on 21 December 2007. The objectors appealedto the High Court pursuant to section 98 of the Building Maintenance and Strata Management Act,raising various issues of law for determination by the High Court, and praying for the STB order to bereversed and the application for a collective sale order to be dismissed. Ankerite applied to and wasallowed by the Court to intervene in the proceedings wherein they alleged that the Collective Sale13 /77