On 10 June 2021, the Singapore Court of Appeal published its decision in Sun Electric Power Pte Ltd v. RCMA Asia Pte Ltd. [2021] SGCA 60, which provided important clarifications to the law in Singapore winding-up proceedings. In particular, the Court of Appeal held that in winding-up proceedings, the cash flow test, as opposed to the balance sheet test, should be the sole and determinative test to prove to the court that the company is unable to…