SINGAPORE – Luxury and lifestyle company Group MMM and its director Manoj Murjani said they have reached an out-of-court settlement to end their business partnership with Peranakan cooking doyenne Violet Oon and her children.
In a statement, he said the two parties had “reached an out-of-court settlement to end our partnership of the better part of a decade”. Ms Oon, 75, owns 50 per cent of the business with her children, Ms Tay Su-lyn and Mr Tay Yiming. They also asked for a shareholders’ agreement, signed in February 2019, to be invalidated, alleging it was signed under “duress and undue influence” from Mr Murjani.with Singapore’s High Court ordering that the family buy out Mr Murjani’s 50 per cent stake in the company at fair value. The High Court’s view was that he and Group MMM’s conduct in the case made it “intolerable” for Ms Oon and her children to work with them.
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Source: The Straits Times - 🏆 8. / 63 Read more »