Oversea-Chinese Banking Corp Ltd v Yeo Hui Keng (Tan Peng
Chin LLC, third party) [2019] SGHC 45 ("OCBC v
Yeo Hui Keng")
The Singapore High Court recently ruled against a party seeking
to invalidate an "all-moneys" mortgage between her and
the bank via the doctrine of non est factum (mistake on the nature
of the transaction). In its decision, the High Court also
considered whether a party could be estopped from seeking to avoid
its liability under such a mortgage in the event that non est
factum was successfully pleaded.
Facts
On January 2013, Oversea-Chinese Banking Corporation Limited
("OCBC")
("Plaintiff") took an
"all-moneys" mortgage over the jointly owned property at
17 East Coast Drive, Singapore
("Property") by Mdm Yeo Hui Keng
("Defendant") and her late husband Mr
Kung Yeok Heng ("Mr Kung"), and all
their other assets ("OCBC Mortgage").
The OCBC Mortgage was in exchange for granting credit facilities
totaling an initial sum of US$8.5m ("Original
