my friend recently noticed his company director forged several purchase invoices to get money from company pay to his own account , what shall he do ? some said company unable sue director if those forged invoices are dated 15 years ago , already pass

Answer :

  • http://legalhelp.com.sg/cache/img/201301/no-image.76x72.crop.jpg

    LegalHelp

    answered on 16/06/2018

    flag as inappropriate

    The Singapore High Court case of Dynasty Line Ltd (in liquidation) v Sia Sukamto & Anor [2013] SGHC 146 is relevant. In that case, it was held where a company sues its directors who have disposed of the company’s assets unlawfully or fraudulently in breach of their fiduciary duties, no limitation period prescribed by the Limitation Act applies. This is because section 22(1)(a) of the Limitation Act provides an exception for actions or lawsuits by a beneficiary under a trust, being an action in respect of any fraud or fraudulent breach of trust to which the trustee was a party or privy. A director who disposes of company property in breach of his fiduciary duties is treated as having acted in breach of trust, and therefore the exception would apply.

    Did you find this post useful? Please provide your feedback by clicking on the link above.

Comments