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The unitholder of Dasin Retail Trust who filed an originating claim against Tan Huay Lim in 2023 has withdrawn it
Add BT as a preferred source
[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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
