Perennial appeals against High Court decision related to Capitol project
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Singapore
PERENNIAL Real Estate Holdings on Monday filed appeals over the High Court's earlier decision to dismiss the winding-up applications for three joint entities that it holds with Pontiac Land unit, Chesham Properties.
On March 3, Judicial Commissioner Kannan Ramesh had acknowledged the deadlock between the shareholders, but accepted Chesham's argument that it would not be just and equitable to wind up the companies because there is an exit mechanism available to Perennial under the constitutions of the companies - in this case, it provides for one party to offer to sell its shares to the other at a fair value.
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