Thio Shen Yi, SC and Nanthini Vijayakumar were mentioned in The Business Times, The Straits Times, Lianhe Zaobao, Berita Harian, CNA, The Online Citizen and Global Trade Review as the counsel for Dr Goh Jin Hian, who won his appeal in the Appellate Division of the High Court against Inter-Pacific Petroleum (IPP).

The liquidators of IPP had sued Dr Goh, the son of former prime minister Goh Chok Tong, to recover US$156 million in losses. Following the appeal, the judgement has been set aside, and Dr Goh no longer has to pay damages to IPP.

Shen Yi was quoted in all the articles, saying that the decision was closely watched by directors as it has wider implications on their duties. “Dr Goh has always maintained that his conduct caused no avoidable loss to IPP, and we believe he has been vindicated. This is an important decision that has practical implications for all directors,” he said. “Directors owe fiduciary obligations and duties of care to a company, but the Appeals Court has crucially recognised the practical and commercial limits to their ability to scrutinise for and detect fraud, especially deep-seated fraud. This acknowledges the complex commercial realities that directors often operate in.”

The Straits Times article was syndicated on AsiaOne as well as Singapore Law Watch.