The Singapore High Court has, in a significant decision, construed the language of an “all-moneys” clause in a mortgage executed by two co-mortgagors for the purpose of purchasing a property as being broad enough for one co-mortgagor to be jointly and severally liable for judgment debt incurred by the other co-mortgagor: Oversea-Chinese Banking Corp Ltd v Lim Sor Choo [2020] SGHC 116 (“OCBC”).
This update examines the High Court’s decision in OCBC.
If you would like information or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or the following:
Alvin CHIA
Partner – Banking & Finance
d +65 6416 8214
e alvin.chia@wongpartnership.com
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Smitha MENON
Partner – Restructuring & Insolvency
d +65 6416 8129
e smitha.menon@wongpartnership.com
Click here to see Smitha’s CV.
TAN Kai Yun
Senior Associate – Restructuring & Insolvency
d +65 6416 6869
e KaiYun.Tan@wongpartnership.com