Chitchat 2.26m Bankruptcy that started out as a simple suit.

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An honorable member of the Coffee Shop Has Just Posted the Following:

This is an interesting case not because it was complex but it does show that system allows the wanton waste of time and public resources and such a trivial matter over egos. The only ones that walked away with the big money was not even the plaintiffs of the original defamation suit who only got about $300K divided by 4 people . The rest of went to the lawyers - Tan Chee Meng, Hri Kumar amongst others.

Twice it went to high court, twice it went to Court of Appeal with CJ in attendance.

Now one donkey because of his wife's ego has been made bankrupt and faces $2.26m and he could not even afford a lawyer at the bankruptcy hearing. The Club and its silly members are not even going to see much of the money.

A court akin to the small claims court could have easily handled the case. The 4 clowns and the Club have not much standing in the first place. $10k in compensation would be more than sufficient to address their reputation.



http://news.asiaone.com/news/singapo...ptEx-Singapore Swimming Club president made bankrupt
Mr Koh owes the Singapore Swimming Club about $2.26 million. Among other things, he had used club funds to defend a defamation suit. Last month, he was also expelled from the club.

Photo: The Straits Times

Former president of the Singapore Swimming Club (SSC) Freddie Koh Sin Chong was made bankrupt yesterday for owing the club an estimated $2.26 million.

The amount comprises judgment debt, interest and costs.

The club filed a bankruptcy application against the 70-year-old last month for using club funds to defend a defamation suit.

Separately, Mr Koh has been expelled from the club after disciplinary proceedings held last month .

He was found guilty of five charges of breach of fiduciary duties with the intention of furthering his own interests rather than that of the club.

He had made the club pay for his legal expenses even after a judgment was passed by the Court of Appeal in a 2009 defamation suit.

He was also found guilty of two counts of breaching the code of conduct and ethics of the club.

Mr Koh had owed $1.52 million to the club after the apex court overturned a High Court decision last year, which rejected the club's bid to recover the money used by him in his unsuccessful defence of the defamation suit.

The Court of Appeal ruled that the club was entitled to a refund on the grounds of Mr Koh's breach of fiduciary duties, as well as how the club had paid his legal bills under a mistaken belief that he was discharging his duties to the club.

Mr Koh became club president in May 2008. He was ousted at an extraordinary general meeting in March 2012.

He was unrepresented at yesterday's bankruptcy hearing.

The club was represented by WongPartnership

- See more at: http://news.asiaone.com/news/singapo....8bJTqvW7.dpuf


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