Arbitration over share-purchase dispute issued partial award, says SingPost

The Arbitral Tribunal on June 3, 2020, issued its partial award in the arbitration, and has dismissed Mr Tan’s various claims against SingPost for damages for breach of the shareholders’ agreement, conspiracy, and inducement of breach of contract, said the group.

The Tribunal also ruled in SingPost's favour on material accounting and computational issues under the share-purchase agreement. These are the most significant determinants of what sums - if any - are due to be paid either by SingPost to Mr Tan, or vice-versa, for the transfer of Mr Tan's remaining shares in FHPL to SingPost.

Based on its findings, the Tribunal has directed both parties to see whether they can agree on the final amount payable for the transfer of Mr Tan's remaining shares in FHPL to SingPost, failing which the Tribunal will make a final determination.SingPost said it is in talks with its external counsel and accounting experts to compute the sums it understands as being due from Mr Tan to SingPost.

The group added that it will engage with Mr Tan’s counsel and the Tribunal to finalise these sums, following which SingPost can then quantify the potential financial impact of this arbitration. SingPost will make further annoucements following any further partial or final determination by the Tribunal.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Didi Chuxing CEO says ride sharing orders recover to pre-pandemic levelsDidi Chuxing, China's biggest ride-hailing company which counts SoftBank as a backer, saw its ride sharing orders in China this month recover to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Football: Hearing opens as Man City appeal two-year European banManchester City's appeal against a two-year ban from European competition opened before the Court of Arbitration for Sport (CAS) on Monday by ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

City enter CAS hearing hoping to overturn UEFA banManchester City will attempt to overturn their two-year UEFA ban from European football when a three-day hearing at the Court of Arbitration for ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Bolsonaro defends later, partial release of Brazil COVID-19 dataBrazilian President Jair Bolsonaro on Saturday defended his government's move to partially withhold official data on the scale of the world's ... same as the Philippines?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Indonesia's Indofood eyes $3 bn purchase of noodle-maker PinehillIndonesia's Indofood CBP Sukses Makmur plans to buy instant noodle maker Pinehill for $3.0 billion as it eyes growth in Africa and the Middle ... My favo indomie
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Singapore Airlines secures US$1 billion additional credit after rights issueSINGAPORE: Singapore Airlines (SIA) said on Monday (Jun 8) that it had secured about US$1 billion in credit facilities, in addition to the S$8.8 ... If SQ need loans , we need to be worried LOL ...... No choice purchase of Airbus need to pay 。
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »