Thursday, July 29, 2010

Peter Lim wins suit

Jul 29, 2010
By Lee Su Shyan, Deputy Money Editor

Biggest payout ever in S'pore for a person who is not a public leader

LEADING investor Peter Lim has won damages of $210,000 in a defamation case - likely the highest amount awarded to someone in Singapore who is not a public leader.

The previous high was likely $150,000 awarded to lawyer Arul Chandran in a libel case a decade ago, lawyers said.

Mr Lim's case centred on a long-running row over Raffles Town Club.

In October last year, he won his defamation suit against the club's shareholders, Ms Margaret Tung and Mr Lin Jian Wei.

Mr Lim had claimed that a statement signed by Mr Lin and Ms Tung was defamatory as it implied that the club's financial difficulties were due to mismanagement by the original directors. Mr Lim was said to be a de facto director during that period.

The statement was sent out to members in 2005, explaining why the club was embarking on a scheme of payment. The scheme was needed as the club had been sued by members for recruiting too many people, but could not pay the damages.

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