Singapore derivative actionsliquidationminority shareholders

Petroships Investment Pte Ltd v Wealthplus Pte Ltd

[2016] 2 SLR 1022

JurisdictionSingapore

CourtSingapore Court of Appeal

Year2016

StatusBinding authority

Key Principle

A statutory derivative action under s 216A of the Companies Act is not available to a minority shareholder once the company is in liquidation (including a members' voluntary liquidation), because the conduct of corporate actions then falls to the liquidator rather than the directors.

Area of Law

company

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