Independent directors: Under pressure to protect minorities
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Uma Devi
WHEN company management brings a deal to their board, they sometimes expect the deal to be waved through by directors. Asking questions about it can be controversial, much less putting a stop to it.
Robson Lee, a senior corporate lawyer who has served as an independent director on several boards, can recall more than 1 such incident.
One Singapore-listed company had wanted to undertake a transaction that would eventually result in a reverse takeover (RTO) by a company listed in another jurisdiction.
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