JUDGMENT

Sahendran Suhendran JC:

[1] These Grounds concern an appeal against the appointment of an independent assessor ("Independent Assessor") under s 369B of the Companies Act 2016 ("CA 2016"). All references to sections are with reference to sections in CA 2016.

[2] The contents of these Grounds are as out in the table below:

Introduction

[3] On the application of the Applicants, I granted orders convening meetings ("the Scheme Meetings") of their scheme creditors ("the Scheme Creditors") to approve schemes of arrangement proposed by the Applicants with their Scheme Creditors; I also granted ad-interim restraining orders, see KNM Group Berhad & Anor v. Hitachi Zosen Corporation & Ors at paras 170 and 234.

[4] Once convening orders under s 366(1) are granted, a Proof of Debt ("POD") exercise must be undertaken to determine the value of the Scheme Creditors' debts for voting at the Scheme Meetings.

[5] By s 369B(5), the PODs filed by Scheme Creditors are to be adjudicated by the chairman of the respective Scheme Meeting. Any dispute between the chairperson and a creditor on the rejection or admission of a POD may be adjudicated by an Independent Assessor appointed under s 369B(9), which