TIC acts for company that removes shareholder
Tito Isaac & Co LLP acted for a company (and its majority shareholders) which had a holding arm in Singapore and a factory overseas. There was a shareholder dispute. The minority shareholder was removed from management by the majority for his conduct. He then made serious allegations of misconduct, mismanagement and bad faith against the majority.

Shareholder dissatisfied with valuation of shares
At the opening of the trial, both parties opted for a majority buy-out of the minority shares and not to carry on with the fight. The Court-appointed expert valuer then carried out a valuation exercise of the shares. The minority shareholder was dissatisfied with the valuation of his shares by the court expert.

Shareholder demands compensation
There was a full hearing on the issue of the valuation. The principal point made by the minority shareholder was that he should be compensated for being removed from management and for being in the minority.

TIC argues successfully against compensation
TIC argued that there should be no compensation on any grounds and that the valuation done by the court expert should stand. In the end, our clients succeeded in having the court expert’s valuation affirmed.

This case is important because it clarifies the issue of compensation and damages in shareholder disputes. The case is reported in the Law Reports.