Distrii Singapore, which owes over S$2 million in rent to CDL, sues ex-CEO for breach of duty
The company claims Hu Yan siphoned funds over a period from as early as 2020
Add BT as a preferred source
DISTRII Singapore, which once operated one of Singapore’s largest co-working spaces, is suing its former chief executive officer for failing to act in good faith and breaching her fiduciary duties.
Court documents say that Distrii, which failed to pay City Developments Ltd (CDL) over S$2 million in rent (as at February 2024) for its 62,000 square feet of commercial space in Republic Plaza, vacated the premises in March.
Distrii alleged that its inability to pay rent was due to actions taken either by its former CEO Hu Yan or its former employee, Yap Chie Lan.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Singapore’s national accountancy body sets up task force to strengthen financial reporting
