High Court dismisses bid by co-founder and CTO to liquidate Cake Group
Add BT as a preferred source
THE Singapore High Court on Thursday (Apr 25) dismissed an application by Cake Group co-founder Chua U-Zyn to wind up the company, saying that the former chief technical officer “has gone too far” with the move.
Judicial Commissioner Alex Wong said there were no grounds to shutter the crypto firm, adding that it was not appropriate for Chua to seek liquidation as a quick fix to his troubles when there were other remedies available.
This puts an end to the current legal battle between Cake Group’s warring founders, Chua and CEO Julian Hosp, which goes back several months.
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
