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LEK Siang Pheng

Partner
Litigation & Arbitration
lek.siangpheng@rodyk.com
+65 6885 3606


EXPERIENCE

Acted for NTUC Income in a suit brought by 2 private schools over the loss of income resulting from their suspension from an accreditation scheme administered by CASE. One of the requirements for accreditation is the protection of foreign students' tuition fees under a student protection scheme which the 2 private schools obtained through NTUC Income.


Acted for all 11 distributors (banks and stockbroking firms) in Singapore of the Lehman Brothers Minibond notes in their dealings with the Monetary Authority of Singapore and the trustee of the notes programme. The Lehman Brothers Minibond notes case made local headlines after the collapse of Lehman Brothers, with about 8,000 noteholders having invested about S$500 million in the notes programme. Also advising some of the distributors individually in firstly developing their response mechanism for dealing with the complaints by the noteholders and secondly on the ongoing process of reaching a resolution with noteholders on the latter's complaints of 'mis-selling'.


Acted for more than 20 creditor banks in the restructuring (scheme of arrangement) of SGX-listed TT International ("TT"). TT has close to 80 subsidiaries in various jurisdictions around the world, which gave rise to challenging cross-jurisdictional legal and practical issues in the restructuring; also TT's creditors comprise mixed group with widely divergent interests (including over 20 bank lenders). TT successfully obtained a court order to convene meeting of creditors for entering into a scheme of arrangement. High Court has since issued order approving the scheme.


Acted for a large local construction company (CIDB Grade 8) in their corporate rescue. The company had over 400 creditors (secured and unsecured) and a total indebtedness in excess of S$65 million. The company applied to Court for and successfully obtained approval for a scheme of arrangement pursuant to section 210 of the Companies Act. For this case, our lawyers working with the company auditors and the Court-appointed scheme administrator.