17 Jan 2022
1. ) CHUAH SEONG KEAT 2. ) PAU KAA THIAM 3. ) THUAN CHEW BOON 4. ) LAI YIP POON 1. ) DIN TAN YONG CHIA 2. ) DION TAN YONG CHEIN 3. ) JARED ANG TZER SHEN 4. ) DIANA TAN SHEIK NI 5. ) JEFFREY TAN SIEW YANG 6. ) WONG MON FONG 7. ) THAI ODYSSEY
- Citation
- WA-24NCC-559-12/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-559-12/2020 (Mahkamah Tinggi)
No actionable oppression: plaintiffs failed to prove a binding understanding or legitimate expectation surviving the 2010 Share Sale Agreement and altered shareholding; management power rested with the board under the SSA and articles; capital calls were bona fide emergency measures during COVID-19 and refusal to subscribe resulted in lawful dilution; alleged mismanagement caused reflective loss to the company for which the remedy is a derivative action; conversion to writ unnecessary; accordingly originating summons and conversion application dismissed with costs.