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Kiri Industries Ltd v Senda International Capital Ltd
Kiri Industries Ltd v Senda International Capital Ltd [2022] SGCA(I) 5, [2022] 1 SLR 1
Key Principle
When a court orders a buyout of an oppressed minority shareholder's shares under s 216 of the Companies Act, the overriding criterion is fairness under s 216(2), not merely 'fair market value'; accordingly a discount for lack of marketability (DLOM) should not be applied where doing so would unfairly benefit the oppressing majority who is acquiring total control.
Area of Law
company
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