The Singapore High Court has found in favour of a Singapore-incorporated petrochemical wholesale company which received a margin for acting as an intermediary in a credit sleeve arrangement with other parties to facilitate the sale of fuel oil in Goodwood Associates Pte Ltd v Southernpec (Singapore) Pte Ltd and another suit [2020] SGHC 242. The Court of Appeal recently dismissed the appeals brought against the High Court’s decision. Click here to read.