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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
JurisdictionSingapore
CourtSingapore Court of Appeal (Singapore International Commercial Court appellate jurisdiction)
Year2022
StatusBinding authority

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

Related Cases

Foo Kian Beng v OP3 International Pte Ltd [2024] SGCA 10
Kiri Industries Ltd v Senda International Capital Ltd (Minority Oppression) [2022] SGCA(I) 5
Senda International Capital Ltd v Kiri Industries Ltd [2022] SGCA(I) 5

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