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Subsequently, they filed a third party notice against two third parties, the first being Peter Lim and the second being BC Tan.
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They filed a joint defence denying liability and disputing the plaintiff’s claim. It should be noted that by Suit 288 of 2002, BC Tan commenced action against the same three defendants as those sued here on the same bases as those set out here and for similar reliefs.ĥ Lawrence Ang and William Tan appointed the same lawyer to defend the claim on their behalf.
#ACTIO PTE LTD SERIES#
(ii) a series of fraudulent misrepresentations by each of the defendants, in breach of their fiduciary duties, as to the success of the RTC project and a deliberate suppression of material information from the plaintiff and BC Tan, thereby inducing the sale of all the plaintiff’s and BC Tan’s shares in Europa and Erasmia at an undervalue. Pursuant to this rights issue their shares were in fact diluted by half and this eventually resulted in their entitlement to shares in Erasmia being similarly halved (i) a series of fraudulent misrepresentations by Lawrence Ang and William Tan to induce the plaintiff and BC Tan to consent to a rights issue exercise for Europa on 13 November 1996, the object of which was the dilution of their shares in Europa. The conspiracy was effected by a series of overt acts that included: In view of this large sum, one Lim Eng Hock Peter (‘Peter Lim’) was brought in as another investor in the RTC project.Ĥ According to the plaintiff, following Peter Lim’s entry, the three defendants embarked on a conspiracy to defraud her and her husband by, first, diluting their respective shareholdings in Europa and Erasmia and, secondly, by procuring the sale of the plaintiff’s and BC Tan’s shares in the two companies at an undervalue. To obtain land to be used for the club’s premises, Europa successful tendered for a 30 year leasehold interest in a piece of vacant land at the junction of Dunearn Road and Whitley Road. This project involved the construction and management of a private recreation club to be known as the Raffles Town Club. Finally, she wanted a declaration that the defendants each held all sums received by them in fraud of the plaintiff as resulting or constructive trustees for her and an order that they pay those sums to her.ģ The disputes between the parties arose after Europa embarked on what it called the RTC project.
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There was a further or alternative claim for an account of all monies and benefits allegedly received by the defendants arising out of their alleged fraud of the plaintiff. She also claimed the costs of and expenses of investigating their conspiracy. In it, the plaintiff claimed against all three defendants damages for misrepresentation and/or breach of an oral agreement and/or breach of fiduciary duties and/or conspiracy. Subsequently, the plaintiff and BC Tan sold their shares in the companies to the defendants.Ģ This action was commenced in June 2002. The defendants, Ang Yee Lim Lawrence, Tan Leong Ko William and Foo Jong Long Dennis were also shareholders and directors of the two companies. – Whether wrongdoer entitled to claim contribution from third party if it would result in wrongdoer retaining part of wrongful gainġ The plaintiff, Ms Teriya Nganthavee, and her husband, Mr Tan Buck Chye (‘BC Tan’), were, until June 1997, shareholders and directors of two Singapore companies, Europa Holdings Pte Ltd (‘Europa’) and Erasmia Pte Ltd (‘Erasmia’).