True fitness group wins lawsuit against founder and ex-CEO over closures

  • 📰 thenewpaper
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Singapore Headlines News

Singapore Latest News,Singapore Headlines

Home-grown fitness chain True Group has won its lawsuit against former group chief executive officer Patrick Wee for mismanaging the closures of...

The group has to pay $62,660.70 to Mr Wee, 57, as he partly succeeded in his counterclaim for unpaid salary.

Mr Wee was in discussions with potential white-knight investors and insolvency lawyers to plan the companies' exit from the Malaysia and Thailand markets, the judge noted. Mr Wee also misled the members in Malaysia into believing that the gyms would remain operational by putting up a notice on May 10, 2017, stating that the Subang Club was closed for renovations.

Source: Healthcare Press (healthcarepress.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in SG

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.

Judge finds ex-CEO of True Group fitness chain mismanaged closures of Malaysia, Thailand branchesSINGAPORE: Months before the impending closures of True Group fitness chains in Malaysia and Thailand, then CEO Patrick John Wee Ewe Seng was still allowing the sale of new gym memberships of up to five years. Staff in Malaysia did not even know about True Group's closure in the country until one day befor
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Dark Travel set to display her true potentialRACE 1 (1,200M) (1) GREAT TIMES is the runner with the best form. He finished well in his first start as a gelding and will come on. (2) SARDO NUMSPA and (10) MAGIC FLOWER could be involved in the tierce. Watch the betting on first-timer (8) IRON...
Source: thenewpaper - 🏆 7. / 63 Read more »

Crypto asset manager Hilbert Capital names Cevian's Murray as CEOLONDON : Cryptocurrency asset manager Hilbert Capital has hired former Cevian Capital executive Richard Murray as CEO, it said on Tuesday.Murray was previously director of investor relations at activist investor Cevian. He has also worked at hedge funds Finisterre and Brevan Howard Asset Management, Hilbe
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Judge finds ex-CEO of True Group fitness chain mismanaged closures of Malaysia, Thailand branchesSINGAPORE: Months before the impending closures of True Group fitness chains in Malaysia and Thailand, then CEO Patrick John Wee Ewe Seng was still allowing the sale of new gym memberships of up to five years. Staff in Malaysia did not even know about True Group's closure in the country until one day befor
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US funds software for Russians to slip past censorsA US-backed campaign is giving Russians access to anti-censor software to dodge Moscow's crackdown on dissent against its invasion of Ukraine, involved groups told AFP.
Source: YahooSG - 🏆 3. / 71 Read more »

Singapore #Fitspo of the Week: John LimThe series is dedicated to inspirational men and women in Singapore leading healthy and active lifestyles. This week: banking analyst John Lim.
Source: YahooSG - 🏆 3. / 71 Read more »