Singapore | High Court sets out applicable standard for striking out minority oppression proceedings where minority shareholder had been offered a buy-out

In the decision of Leong Quee Ching Karen v Lim Soon Huat [2022] SGHC 309, the High Court dismissed the Defendants’ appeals to strike out the Claimant’s Suit for minority oppression under section 216 of the Companies Act 1967 (2020 Rev Ed).

This update by Director Adam Maniam focuses on the High Court’s discussion on the applicable standard in relation to whether a Court will strike out a claim in oppression where the defendant(s) (the majority shareholder(s)) have made an offer to buy out the shares of the claimant (a minority shareholder) in the relevant company.

Please click here to read the update.