Developer's liquidator to get funding raised by creditors for probe
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This case breaks new ground in the development of litigation funding in Singapore in relation to cases of corporate insolvency.
ST PHOTO: KUA CHEE SIONG
SINGAPORE - The High Court has given the nod for the liquidator of the debt-riddled Castlewood Group to get funding raised by its creditors in exchange for assigning the proceeds from whatever claims realised.
The funding will enable the liquidator to investigate the affairs of the company, pursue claims on the company's behalf , and - if successful - claw back more in recovering assets.
