Significance: Singapore High Court (Coram: Chua Lee Ming J) held that AIB Group (UK) plc v Mark Redler & Co Solicitors  3 WLR 1367 (“AIB”) should be followed in that but-for causation should be established by the claimant to obtain equitable compensation where there has been a breach of trust.
What is a Capitalisation Table?
The capitalisation table (cap table) is a single, internally-consistent document explaining how ownership over the company is divided.
When a company is initially set up, 100% of the ownership over the company will typically be allocated to the founders and angel investors, with a specific number of shares allocated to each individual. The cap table records how these shares are allocated.
Significance: Singapore High Court held that former director, a aesthetic doctor, breached obligations of confidentiality and conspired with intent to injure the former company (a medical clinic) by unlawful means. The Court held that the damages payable would be the loss computed based on the profits to the new company/clinic made from the diversion of patients and expedited by the use of the confidential information. The Court made a fair and reasonable estimate that the diversion of patients would have taken place within 6 months without the use of the confidential information, and so computed the loss based on such timeline.
Beyonics Technology Ltd v Goh Chan Peng  SGHC 120 – HC rules on causation for equitable compensation
Significance: in this murky area of the law of equity and trusts, Hoo Sheau Peng JC decided that the causation rule for awarding equitable compensation for breach of fiduciary duties involving the core fiduciary obligations of acting in the best interests of the principal would be the less strict approach taken by the Privy Council in the Brickenden v London Loan & Savings Co of Canada  3 DLR 465 (“Brickenden”) decision and discussed in previous SGHC decisions of Quality Assurance Management Asia Pte Ltd v Zhang Qing  3 SLR 631 (HC) (“Quality Assurance”) and Then Khek Koon v Arjun Permanad Samtani  1 SLR 245 (HC) (“Then Khek Koon”).
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Case Update: HSBC Trustee (Singapore) Limited v Carolyn Fong Wai Lyn  SGHC 31
Significance: Singapore High Court interprets will holistically (as opposed to a clause-specific construction), orders estate’s properties to be mortgaged to raise funds for professional trustees’ fees and costs, and refuses to order that trustees be discharged as Court found it was not in the interests of beneficiaries given the ongoing litigation in relation to the estate.
Case Update: Chng Weng Wah v Goh Bak Heng  SGCA 09 – Singapore Court of Appeal clarifies and applies law on order for account and equitable defence of laches
Significance: Singapore Court of Appeal clarifies law on order for account under equity and equitable doctrine or defence of laches.