Litigation against OUE Reit independent director discontinued
The unitholder of Dasin Retail Trust who filed an originating claim against Tan Huay Lim in 2023 has withdrawn it
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[SINGAPORE] Litigation has been discontinued against Tan Huay Lim, an independent director at the manager of OUE real estate investment trust (Reit), the company announced in a Monday (May 11) bourse filing.
Zhang Zhencheng, a substantial unitholder of Dasin Retail Trust (DRT), had filed an originating claim in the Singapore High Court against Tan in 2023, on allegations of “oppressive” conduct.
In Monday’s filing, OUE Reit said it was notified by Tan that Zhang had filed a notice of discontinuance with the High Court. The court accepted the notice on May 7, ending the matter.
OUE Reit ended Monday at S$0.365, up by S$0.005 or 1.4 per cent.
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