6 Aug 2021
Lim Kah Keng Teng Taim Sing & Ors
- Citation
- WA-24NCC-51-02/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-51-02/2020 (Mahkamah Tinggi)
Court found that the parties formed a quasi-partnership with a legitimate expectation that Plaintiff would participate in management; majority conduct (removal without reasons or buy-out offer and cessation of business) constituted a visible departure from standards of fair dealing amounting to oppression under s.346 CA; appropriate remedy is declaratory relief and structured exit: appoint independent valuer to assess shares (net tangible assets as at 30 Nov 2019), give defendants first refusal to buy Plaintiff's shares at that value, then Plaintiff may buy defendants' shares, failing which c…