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The Precious Shipping case confirms that the opposite applies in Singapore – interpleader relief is not available to purchasers. Purchasers may however take some comfort from the High Court’s finding that the physical suppliers have no prima facie claim against the purchasers in Singapore.
Fn.1 A procedure whereby a party holding property and facing competing claims does not know to which competing claimant the property should be released to, and seeks the Court’s aid in resolving the matter.
Fn.2 Supreme Court of Judicature Act (Cap.322), s.18(2) and First Schedule, paragraph 4; Rules of Supreme Court Order 17 rule 1.
