Yeo Boong Hua v Turf City Pte Ltd: Dispute over Share Valuation and Bidding Process

In a dispute between Yeo Boong Hua, Lim Ah Poh, and Teo Tian Seng (plaintiffs) and Turf City Pte Ltd, Singapore Agro Agricultural Pte Ltd, Tan Huat Chye, Ng Chye Samuel, and Koh Khong Meng (defendants), the High Court of Singapore, presided over by Choo Han Teck J, addressed the progression of Originating Summons 1634 of 2002 and Suit 703 of 2004, which had been consolidated and settled by a consent order on 22 February 2006. The plaintiffs sought to set aside the consent order or have a re-valuation of shares, which was disallowed. The court dismissed the plaintiff's application for a stay and granted the defendant's application to proceed with the bidding process for the shares.

1. Case Overview

1.1 Court

High Court

1.2 Outcome

Order granted for the bidding process to proceed.

1.3 Case Type

Civil

1.4 Judgment Type

Grounds of Decision

1.5 Jurisdiction

Singapore

1.6 Description

Dispute over share valuation after a consent order. The court ordered the bidding process for the shares to proceed, dismissing the plaintiff's application for a stay.

1.7 Decision Date

2. Parties and Outcomes

Party NameRoleTypeOutcomeOutcome TypeCounsels
Tan Huat ChyeDefendantIndividualApplication to proceed with bidding process grantedWon
Yeo Boong HuaPlaintiffIndividualApplication for stay dismissedLost
Lim Ah PohPlaintiffIndividualApplication for stay dismissedLost
Teo Tian SengPlaintiffIndividualApplication for stay dismissedLost
Singapore Agro Agricultural Pte LtdDefendantCorporationApplication to proceed with bidding process grantedWon
Koh Khong MengDefendantIndividualApplication to proceed with bidding process grantedWon
Turf City Pte LtdDefendantCorporationApplication to proceed with bidding process grantedWon
Ng Chye SamuelDefendantIndividualApplication to proceed with bidding process grantedWon

3. Judges

Judge NameTitleDelivered Judgment
Choo Han TeckJudgeYes

4. Counsels

Counsel NameOrganization
Kelvin PoonRajah & Tann LLP
Farrah SalamRajah & Tann LLP
Devinder RaiCentral Chambers Law Corporation
Koh Sim TeckCentral Chambers Law Corporation
Ronnie Tan Siew BinCentral Chambers Law Corporation

4. Facts

  1. Plaintiffs commenced an action against the defendants in Originating Summons 1634 of 2002.
  2. The matter was consolidated with Suit 703 of 2004.
  3. The parties settled the dispute by a consent order dated 22 February 2006.
  4. The parties agreed to appoint a valuer to establish the value of the shares.
  5. The valuation report was delayed and released on 10 August 2007.
  6. The plaintiff applied to set aside the consent order or a re-valuation of the shares.
  7. The defendant applied for the consequential order that the bidding process be ordered to proceed.

5. Formal Citations

  1. Yeo Boong Hua and Others v Turf City Pte Ltd and Others and Another Suit, OS 1634/2002, SUM 4848/2008, 5373/2008, Suit 703/2004, [2009] SGHC 34

6. Timeline

DateEvent
Action commenced by the plaintiffs against the defendants in Originating Summons 1634 of 2002.
Consolidated with Suit 703 of 2004.
Settled by a consent order.
Valuation report due.
Valuation report released.
Court granted the defendant’s application to proceed with the bidding process for the shares.

7. Legal Issues

  1. Setting aside consent order
    • Outcome: The court disallowed the application to set aside the consent order.
    • Category: Procedural
  2. Stay of application
    • Outcome: The court dismissed the plaintiff's application for a stay.
    • Category: Procedural

8. Remedies Sought

  1. Setting aside consent order
  2. Re-valuation of shares
  3. Stay of application

9. Cause of Actions

  • No cause of actions

10. Practice Areas

  • Commercial Litigation

11. Industries

  • No industries specified

12. Cited Cases

Case NameCourtAffirmedCitationJurisdictionSignificance
No cited cases

13. Applicable Rules

Rule Name
No applicable rules

14. Applicable Statutes

Statute NameJurisdiction
No applicable statutes

15. Key Terms and Keywords

15.1 Key Terms

  • Consent order
  • Valuation report
  • Bidding process
  • Shares
  • Stay of application

15.2 Keywords

  • Civil Procedure
  • Share Valuation
  • Bidding Process
  • Consent Order

17. Areas of Law

Area NameRelevance Score
Civil Practice75
Shares50
Company Law40
Commercial Disputes30
Share Valuation25

16. Subjects

  • Civil Procedure
  • Share Valuation
  • Bidding Process