Chua Beng Chye.JPEG

Chua Beng Chye

Partner

Practice Area:

Restructuring & Insolvency

LLB (Hons), National University of Singapore
Advocate & Solicitor, Supreme Court of Singapore

T +65 6232 0419
E [email protected]

Beng Chye has been in practice for more than a decade and he is currently a partner with the Restructuring & Insolvency Practice Group ("R&I") of Rajah & Tann Singapore LLP.

He specializes in bankruptcy and corporate insolvency, as well as debt restructuring, judicial management and schemes of arrangement. Beng Chye represents several major banks and financial institutions in Singapore. His practice areas include corporate and commercial litigation, shareholder minority oppression suits and tenancy disputes.

Experience

Beng Chye is part of the R&I team in Rajah & Tann Singapore LLP who had advised China Aviation Oil (Singapore) Corporation Ltd (‘CAO’) in one of Singapore largest successful corporate debt restructuring exercises, involving over USD550 million. CAO received resounding support (over 90% in value and in number) for its debt restructuring plan from its creditors, and the Scheme of Arrangement was sanctioned by the High Court of Singapore in June 2006.

He was also involved in the debt restructuring of another listed company, namely Advanced Systems Automation Ltd, which similarly achieved strong support of over 90% from its creditors for the proposed Scheme of Arrangement. The Scheme was subsequently approved by the High Court in January 2006.

Apart from debt restructuring, Beng Chye also advises on liquidation (voluntary and compulsory) and judicial management. He was part of the team in Rajah & Tann Singapore LLP that advised the liquidators of Lehman Brothers Singapore. He had advised the Judicial Managers and later successfully applied to the High Court for the appointment of Liquidators for Wan Soon Construction Pte Ltd, a large construction company in Singapore which was previously graded by the Building Construction Authority as A1 Unlimited for General Building and Civil Engineering.

Beng Chye also specializes in the auto-finance industry, and has handled block discounting, floor stock and hire purchase financing for major banks and financial institutions. He is the appointed Legal Advisor for the Singapore Vehicle Traders Association.

His experience includes:
  • China Aviation Oil (Singapore) Corporation Ltd – involved in debt restructuring and Scheme of Arrangement. One of Singapore largest debt restructuring exercise involving about USD550 million.
  • Life Glow Asia Pte Ltd – succeeded on appeal in the Court of Appeal
  • Wan Soon Construction Pte Ltd – involved in judicial management and subsequent compulsory liquidation
  • SEA Hydropower Pte Ltd – represented the minority shareholder and director in a minority oppression suit against the majority directors and shareholders of SEA Hydropower Pte Ltd. The action involved elements of minority oppression and breach of fiduciary duties, and cumulated in four back-to-back trials in the High Court.
  • Advanced Systems Automation Ltd – involved in debt restructuring and Scheme of Arrangement
  • SK Global Asia Pacific Pte Ltd – involved in debt restructuring and Scheme of Arrangement
  • Frankel Motor Pte Ltd – represented OCBC in claim of over S$4 million against this major car dealership and parallel importer company in Singapore.
  • EC Asia Ltd (a public company formerly listed in the Australian Stock Exchange) – represented United Overseas Bank Ltd in applying to the High Court of Singapore to appoint provisional liquidators for EC Asia Ltd (a public company formerly listed in the Australian Stock Exchange) and later successfully wound up the company. The director of EC Asia Pte Ltd, Kelvin Ang, was subsequently convicted of massive invoice financing fraud.
  • Lian Beng Construction Ltd - Beng Chye was also part of the team that represented a major construction company, Lian Beng Construction Ltd, in a claim for over S$9 million against another listed construction firm, Manhattan Resources Ltd.
  • Swiss Butchery Pte Ltd - involved in the claim by Swiss Butchery Pte Ltd in the High Court of Singapore against the company’s former director, his sons and their company, Huber Pte Ltd, for breach of fiduciary duties and conspiracy.
  • Zhonghui Holdings Ltd – advised the judicial managers and liquidators of this company listed in the Singapore Exchange
  • Lehman Brothers Singapore – part of team that advised the Liquidators of the Lehman Brothers Singapore entities
  • Assets Wine Management Pte Ltd – represented the wine investors in their claim against the company after the directors disappeared. Also advised the Receivers and Managers in the recovery, proper and orderly distribution of the wines.
  • Goldtron Ltd – represented the group of 7 shareholders who successfully requisitioned for the Extraordinary General Meeting to replace the directors of the Singapore Exchange - listed company.
Reported Cases
  • Progress Software Corp (S) Pte Ltd v Central Provident Board [2002] 4 SLR 367
  • Sin Sai Peng and Another v Soh Kim Lian Florence [2002] 4 SLR 681
  • Rafiq Jumabhoy v Scotts Investments (Singapore) Pte Ltd (in compulsory liquidation) [2003] 2 SLR 422
  • Re CEP Instruments Pte Ltd (in liquidation) [2004] SGHC 206
  • AAR and another v AAS (liquidator and trustee of B and others) [2009] 4 SLR 33
  • Lim Eng Teck v Life Glow Asia Pte Ltd [2008] SGHC 196 – succeeded on appeal in the Court of Appeal
  • Surface Stone Pte Ltd v Tay Say Leon [2011] SGHC 223 – landmark decision on eDiscovery
  • Madihill Development Sdn Bhd v Sinesinga Sdn Bhd (transferee to part of the assets of United Merchant Finance Bhd) [2012] 1 SLR 169
  • Tong Guan Teck v DBS Bank Ltd [2012] SGHC 72
Unreported Judgments
  • Attorney-General v Wan Soon Construction and Another [2005] SGDC 6
  • Ascend Foodstuff Solution Pte Ltd v Lim Tian Sye trading as Eng Kee Chye Huat [2009] SGDC 31
Memberships / Directorships
  • Associate, Insolvency Practitioners’ Association of Singapore
  • Member, INSOL International
  • Member, Singapore Academy of Law
  • Member, Law Society of Singapore