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Suits filed by Sakae Holdings against ex-director and others begin

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Mainboard-listed Sakae Holdings has said in a filing to the Singapore Exchange (SGX) that the trial for the suits filed by the company against various defendants would begin on Friday in the Singapore High Court.

MAINBOARD-LISTED Sakae Holdings has said in a filing to the Singapore Exchange (SGX) that the trial for the suits filed by the company against various defendants would begin on Friday in the Singapore High Court.

The trial has been fixed for Jan 15 to March 4.

The first suit is against Andy Ong for allegedly breaching duties when he was director of the company, among other allegations.

The company also filed a suit against various defendants as it felt that the affairs of Griffin Real Estate Investment Holdings (GREIH) have been conducted in a manner that is oppressive and prejudicial to the interests of the company, which is a minority shareholder of GREIH.

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Sakae said that in these two suits, some of the defendants have made third party claims against its current chairman Douglas Foo.

These claims will also be heard by the High Court at the trial, it noted, adding that there are another two suits, which will not be heard at the trial.

The High Court has ruled that the other two suits will be deferred for now.

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