uyen

Man uses Mareva injunction against nephew in court battle to recover $100,000


NEPHEW: No, you made bad investment

LOAN or investment?

A disagreement over $100,000 led to a court case between a man and his nephew.

Mr Ow Weng Fye, in his 60s, claimed the sum was a loan to his nephew, Mr Michael Lim, 48.


Mr Lim claimed the money was his uncle's investment in a failed business in China.

Mr Ow went to court late last year, to get the money back. And won.

Mr Lim was ordered to repay him.

Before that, when he heard his nephew was selling a house in Serangoon Gardens for more than $1million, Mr Ow went to court again, and got a Mareva injunction.

This stopped Mr Lim from selling his assets to avoid paying Mr Ow.

Mr Lim then had to inform his uncle of the value and whereabouts of his assets in Singapore.

Mr Ow also slapped a Mareva injunction on Mr Lim's wife, Madam Lim Tin So, after she wrote and cancelled a cheque of $100,000 to him.

The injunction against Mr Lim was granted after an urgent hearing on 15 Dec last year. He was in New Zealand, and failed to attend.

His lawyer, Mr Charles Lin of Donaldson & Burkinshaw, told The New Paper: 'I managed to contact him afterwards and he gave me further instructions.'

On 7 Feb this year, Mr Lim asked the Subordinate Courts to let him use part of his house sales proceeds to repay about $120,000 in credit card and overdraft debts.

PAY FOR WORKERS

He claimed he had taken overdrafts to pay workers in his China factory.

Objecting, Mr Ow's lawyer, Mr Richard Sam, said Mr Lim had failed to show that he did not have any other assets that could repay the debts.

He argued it was possible the application was aimed at reducing the assets available to his client.

District Judge Miranda Yeo dismissed Mr Lim's application.

While Mr Lim does not intend to appeal, Madam Lim plans to fight the injunction against her.

Her case is that Mr Ow's legal actions are aimed at harassing her and her husband, as they live in New Zealand and face difficulties with proceedings in Singapore.

Her case is pending in the Subordinate Courts.

source: http://newpaper.asia1.com.sg/news/st...41701,00.html?

人情味不是偏私而是博爱，

不是施舍而是关怀。

不是表面的礼貌，

而是内心的尊重。

Friends will bail you out of jail.but Best Friends will be sitting by you saying,
" that was awesome !"

genzo2106

well guess justice did prevail in this case...

Life is full of ups and downs. But one has to learn how to stand up on his own and continue his path to attaining enlightment...:mellow3: :mellow3:

My articles at HELIUM:mellow3:

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.