With our deep industry knowledge and vast experience, our team of licensed insolvency practitioners will be in the best position to help you achieve the optimal outcome.

Lai Seng Kwoon
Public Accountant
Licensed Insolvency Practitioner laisk@relianceaudit.com.sg

Tan Eng Soon
Public Accountant
Licensed Insolvency Practitioner engsoontan@relianceaudit.com.sg

Keith Ng
Public Accountant
Licensed Insolvency Practitioner keithng@relianceaudit.com.sg
Here are some of the cases we have handled:
Voluntary Liquidation & Compulsory Winding Up (Court Appointed)
- Acted as liquidator of companies in the health and wellness business with large membership base, including a woman-only gym and massage parlour with more than 400 and 1,200 members.
- Acted as liquidator of companies in the F&B industry. Negotiated with landlords on various matters, including recovery of assets of the companies.
- Acted as liquidator of an online grocery retail company. Assisted in the recovery of a large quantity of inventories which consisted of perishable food products primarily, on short notice.
- Acted as liquidator of an interior design company with over 200 creditors. Recovered assets and had a total asset distribution of over S$5 million.
- Acted as liquidator of an engineering company which specialises in the automation, robotics and marine sectors. Disposed patents and trademarks for underwater propelling technology through an auction.
- Acted as liquidator of an investment holding company. Recovered and liquidated assets which included the disposal of shares in a subsidiary and had a multimillion-dollar distribution to creditors and contributories.
- Acted as liquidator of an aerospace engineering company. Obtained approval from creditors for the company to complete on-going contracts with customers post-commencement of liquidation. Represented the company in negotiations with customers and managed the repatriation and local redeployment of more than 10 foreign workers. Arranged and negotiated for the successful disposal of a substantial overseas investment located in People’s Republic of China.
- Acted as liquidator of an engineering services company. Disposed equipment, realising amounts in excess of S$300,000. Negotiated with Jurong Town Corporation for the surrender and handover of premises comprising a wharf and office building. Worked extensively with solicitors throughout the liquidation on various matters, including but not limited to recovery of assets previously seized by creditors under a writ of seizure and unwinding garnishee orders against the company’s assets.
Dispute Resolution
- Acted as expert witness for ex-directors of a large shipping company currently in liquidation who were being sued by the liquidator for withdrawing dividends from the company while it was near liquidation and was assessed to be insolvent by the liquidator. Work involved reconstruction of financial statements to evaluate and assess solvency position of the company and to defend the position that the company in liquidation showed no signs of insolvency when the dividends were distributed.
- Acted as expert witness for a partner in a legal practice on profit-sharing disputes between two senior lawyers. The engagement involved an examination of the partnership’s accounting records and computation of the partners’ share of profit based on partnership agreements and findings from review of the accounting records of the partnership.
- Acted as expert witness for a director and shareholder of a company providing professional diving services to the marine industry. The engagement involved a re-examination and audit of accounting records of company for past three financial years and rendered an opinion.
- Acted as expert witness for a shareholders’ dispute where a minority shareholder has sued under Section 216 of the Companies Act. This engagement involved a review of accounting and related documents and completed valuation report of the company and its subsidiaries to assist shareholder to arrive at a settlement amount.
- Acted as expert witness for a logistic company where a customer has filed a claim for loss of goods against the company. This engagement involved an examination of the customer’s claim and review of related documents and records to establish and quantify extent of losses claimed.
- Acted as expert witness for businessman who had infringed patents and trademarks. This engagement involved providing assistance to him to ascertain “loss of profits” to owner of trademarks and to defend quantum of such ‘loss of profits’ put up by owners.
- Acted as expert witness to a shareholder of a 24-hour eatery which has gone into financial difficulties. This engagement involved the provision of an opinion on audited financial statements on the status of financial support provided by one of the shareholders and extent of liability attached to such financial support.
- Acted as expert witness for a Singapore engineering company who has a dispute with its Australian business partner for a joint venture based in India. Assisted in the preparation of the accounts of the joint venture and to defend quantum of loss filed by joint venture partner.
- Acted as expert witness for a German based bag manufacturer to defend proceedings brought about by a Singapore based distributor for premature termination of distribution arrangements. Work involved in examination of accounting records to quantify, compute and assess loss of profits claimed by the Singapore based distributor.
- Acted for a Chinese state-owned enterprise, one of its overseas subsidiaries and ex-directors of its Singapore subsidiary, a company in liquidation (the “Defendants”). The liquidator claimed that certain transfers of assets by the company, shortly before the commencement of the liquidation, to its related parties were unfair preferences and sought to recover a total sum of more than US$15 million from the Defendants. The work involved an analysis of the accounting records of the company and the rendering of an opinion on whether those accounting records provide indications to the existence of an arrangement whereby the company held assets on behalf of its related parties.