 The Reform Party was founded by lawyer and veteran politician J.B. Jeyaretnam, notable as the first opposition candidate to be elected Member of Parliament under the Workers' Party of Singapore banner after a period of about 16 years when not a single opposition candidate in Singapore won a seat, as well as the secretary-general of the Workers’ Party from 1971 to 2001.At the time, Jeyretnam (then a Non-Constituency Member of Parliament) was sued by then-Senior Minister Lee Kuan Yew and then-Prime Minister Goh Chok Tong over defamation at the total damages amounting S$565,000 including court costs of S$270,000, and was declared bankrupt (which also barred the right from standing in elections) after failing to follow up his payment.He subsequently resigned from his leadership post and party later, citing that the party (notably then-Secretary General Low Thia Khiang) did not receive due support to help him repay his payments.