Sarjit Singh Gill, SC

Banking and Finance Disputes

• Acting for The Hongkong and Shanghai Banking Corporation in a fraud claim against the ex-directors and ex-employee of Hin Leong Trading (Pte) Ltd. HLT was one of the largest independent oil traders, and its collapse in 2020 was one of the largest in Singapore. Successfully obtained judgment for HSBC;
• Successfully acted for Standard Chartered Bank (Singapore) Limited (SCB) in defending a claim by the beneficiary, Winson Oil Trading Pte Ltd, in a claim under a letter of credit issued by SCB, for US$30 million. Succeeded in demonstrating fraud by the beneficiary, and the decision was upheld on appeal;
• Acting for an international bank in relation to proceedings commenced in Indonesia by an Indonesian company. The proceedings in Indonesia were commenced both against the bank and its executives and employees. Successfully obtained an interim anti-suit injunction against the Indonesian company on the basis of an arbitration agreement between the bank and the Indonesian company. Successfully argued that the anti-suit injunction should be granted in respect of the bank’s executives and employees, despite such individuals not being party to the arbitration agreement; and
• Acting for a South African fund in its claim for approximately US$4 million against a credit insurer who has refused payment under the credit insurance policy.

International Trade / Trade Finance

• Acted for a regional bank in a fraud claim against the beneficiary to a letter of credit;
• Acted for a high-net-worth individual in a dispute concerning agricultural commodities. Successfully set aside an ex parte worldwide Mareva injunction for US$280 million against the client. The High Court’s decision was subsequently upheld by the Court of Appeal;
• Acted for an Indian Bank in a claim by a beneficiary. Successfully resisted the beneficiary’s claim that the client negotiated the letter of credit; and
• Acting for the owners of cargo in a claim for conversion against the owner of the vessel.

Insolvency & Restructuring

• Acting for the Judicial Managers and subsequently Liquidators of Armada (Singapore) Pte Ltd, in the worldwide administration of numerous cross-border insolvency-related matters and contractual disputes;
• Acted for a major international bank in successfully resisting a moratorium application under section 211B of the Companies Act (now section 64 of the Insolvency, Restructuring and Dissolution Act 2018), and obtaining a judicial management order in relation to Zenrock Commodities Trading Pte Ltd;
• Acting for the Resolution Professional of Think and Learn Pte Ltd, which is under a Corporate Insolvency Resolution Process in India. Successfully obtained recognition of the RP as the foreign representative under the Model Law;
• Acting for OCBC on its financial exposure to KS Energy Limited (KSE) and its subsidiaries; and for Deloitte & Touche LLP in their capacity as the Interim Judicial Managers and Judicial Managers of KSE and KS Drilling Pte Ltd (KSDR);
• Acting for a major local bank in relation to the bank’s exposure to Ezra Holdings Limited, its subsidiaries, and companies in the Ezra Group;
• Advised a group of banks on the Singapore law aspects of the US$2.2 billion restructuring of Drydocks World LLC, the ship-repair unit of state-controlled Dubai World. Drydocks World owns the Middle East’s largest shipyard in Dubai and has yards operating in Singapore and Indonesia;
• Acting for the largest creditor bank in the judicial management of Swiber Holdings Ltd and Swiber Offshore Construction Pte Ltd, the Firm has been at the forefront of many of the issues faced by the judicial managers and creditors alike. This is one of the largest corporate insolvencies in Singapore;
• Acting for and advising a major local bank in relation to the bank’s exposure to a group of companies engaged in the chartering of vessels and rigs for the oil and gas industry. Interim Judicial Managers were appointed for Swissco Holdings Limited in late 2016, in the aftermath of the downturn in the oil and gas sector; and
• Advising an international consultancy firm on a potential rescue financing deal worth approximately S$380 million with a beleaguered Singapore listed company. The advice involved issues relating to the amendments to the Singapore insolvency regime and enforcement. The advice also involved coordinating with US counsel, as well as other legal departments within the firm to provide advice on corporate real estate, financing documentation, corporate finance issues and legal due diligence.

International Arbitration

• Acting for a major Indian cooperative in an arbitration involving a claim against a US-listed company and one of its major shareholders, both domiciled in Australia. Successfully obtained an Award against both defendants, and advised and instructed local lawyers in relation to enforcement in Australia;
• Successfully acted for a local bank in an arbitration claim against credit insurers;
• Successfully acted for and advised a major local bank in an arbitration claim against a prominent insurance company for approximately US$30 million in insurance pay-outs pursuant to a trade credit insurance policy;
• Acted and advised a major Malaysian bank in its successful arbitration claim against an insurance company for approximately S$5 million in insurance pay-outs pursuant to a non-payment insurance policy;
• Advising an international investor embroiled in arbitration proceedings against a director of an investment vehicle incorporated in Singapore;
• Acted for a Claimant in an international arbitration involving a claim against an Indian mining company for breach of two Contracts of Affreightment. The Claimant was awarded approximately US$77 million in damages; and
• Acting for the Receivers, FTI, of a number of related companies in resisting an effort to set aside an arbitration award and successfully enforcing the same. In a related action, successfully applying for an anti-suit injunction to restrain proceedings in Thailand commenced by the same counter-parties.

Family & Private Client

• Acting for the Appellants in legal proceedings under the Mental Capacity Act before the Family Court, High Court and, ultimately, the Court of Appeal. The Appellants were seeking a declaration that their sister, the Third Respondent, did not have the requisite mental capacity to make decisions in relation to her assets (estimated to be worth in excess of S$200 million) and that deputies should be appointed to make such decisions on her behalf. The Court of Appeal granted such a declaration and appointed deputies for the incapacitated person.