Singapore court overturns order approving schemes for troubled petrochemicals joint venture

Singapore court overturns order approving schemes for troubled petrochemicals joint venture

The Court of Appeal of Singapore has overturned a judgment sanctioning two schemes of arrangement for the Cayman and British Virgin Islands shareholders of troubled petrochemicals joint venture Jurong Aromatics Corporation (JAC), finding they were not schemes that "a man of business or an intelligent and honest man" would reasonably approve.

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