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Neither can it be said that the refusal of the defendants to purchase Hong Yap’s shares is the same as unfair conduct of the company’s affairs which unfairly discriminates against or is otherwise prejudicial to Hong Yap under s 216 (1) (b) of the Act.
A close personal relationship is more likely to entail or generate shared informal or even unspoken understandings that constrain the exercise of majority rights.3 In this action, the plaintiff, Mr Deniyal bin Kamis (“Mr Deniyal”), seeks relief under s 216 of the Companies Act against the third defendant, Mr Niew Bock Leng (“Mr Niew”).
IN THE MATTER OF TIEN MAH LITHO PRINTING COMPANY (PRIVATE) LIMITED AND IN THE MATTER OF SECTION 216 OF THE COMPANIES ACT, CHAPTER 50 [1992] SGHC 110 | Decision Date: 29 Apr 1992 | Originating Petition No 94 of 1989
[Companies — Oppression — Minority shareholders — Exercise of remedial discretion to bring to an end or remedy oppressive conduct complained of — Whether minority shareholder should be paid out of net proceeds of en bloc sale of total equity of company in priority to majority shareholder — Section 216 (2) Companies Act 1967 ...
