In RTC Pte Ltd v Peter Lim & Others, the court held that the RTC could not succeed in its legal action against the defendants because

the defendants did not breach their fiduciary duty to RTC

the defendants had not perpetrated a fraud against RTC

RTC$\text{'}$s action against the defendants was really for the benefit of its controllers hence to allow it would cause the controllers to be unjustly enriched.

RTC was already time$-$barred from suing