Defamation suit ends up in $12m civil suit against TT Durai and old NKF Board
By Noor Mohd Aziz, Channel NewsAsia Posted: 08 January 2007 1936 hrs
SINGAPORE: The new NKF's attempt to recover at least $12m from its former chief executive officer Mr T T Durai and four other former board members has begun in the High Court.
They are former chairman of the NKF Mr Richard Yong, treasurer Mr Loo Say San, board member Ms Matilda Chua and Mr Pharis Aboobacker, a friend of Mr Durai.
It is suing them for alleged breach of duty resulting in losses and damages.
The $12m sum which the new NKF wants to recover includes monies it says were improperly spent or paid out in salaries, benefits and failed contracts.
It also includes the more than $2m in remuneration paid out to Mr Durai and more than $500,000 in legal costs paid out to Singapore Press Holdings.
Although the new NKF under Mr Gerard Ee is suing only these five defendants, Mr Yong and Mr Loo have dragged in four other former directors as third parties, arguing that all directors should be held liable.
The others are Mr Alwyn Lim, Associate Professor Lawrence Chia, Mr Kweh Soon Han and Mr Chow Kok Fong. As third parties, the defendants could claim for damages against these four former directors in the event they lost the case.
As for Mr Aboobacker, an Indian national, a conflict of interest was alleged in the dealings between his firm, Mr Durai and Ms Chua.
The whole saga started with an article in The Straits Times on April 19, 2004 which led to Mr Durai suing Singapore Press Holdings for defamation.
During the trial, about one and a half year ago, details about his pay and perks were released and eventually resulted in the resignation of the entire old NKF board.
Subsequently, the management practices at the old NKF came to light after a six month investigation by KPMG, an audit firm.
After this civil case is over, Mr Durai will have to be present in court at the end February to face two criminal charges.
During the three week trial, he will have to answer to charges under the Prevention of Corruption Act.
He has been charged with intent to deceive NKF by submitting false documents.
Other than Mr Durai, who is currently out on a $50,000 bail, Ms Chua, Mr Yong and Mr Loo also face criminal charges. - CNA /dt
SINGAPORE: The new NKF's attempt to recover at least $12m from its former chief executive officer Mr T T Durai and four other former board members has begun in the High Court.
They are former chairman of the NKF Mr Richard Yong, treasurer Mr Loo Say San, board member Ms Matilda Chua and Mr Pharis Aboobacker, a friend of Mr Durai.
It is suing them for alleged breach of duty resulting in losses and damages.
The $12m sum which the new NKF wants to recover includes monies it says were improperly spent or paid out in salaries, benefits and failed contracts.
It also includes the more than $2m in remuneration paid out to Mr Durai and more than $500,000 in legal costs paid out to Singapore Press Holdings.
Although the new NKF under Mr Gerard Ee is suing only these five defendants, Mr Yong and Mr Loo have dragged in four other former directors as third parties, arguing that all directors should be held liable.
The others are Mr Alwyn Lim, Associate Professor Lawrence Chia, Mr Kweh Soon Han and Mr Chow Kok Fong. As third parties, the defendants could claim for damages against these four former directors in the event they lost the case.
As for Mr Aboobacker, an Indian national, a conflict of interest was alleged in the dealings between his firm, Mr Durai and Ms Chua.
The whole saga started with an article in The Straits Times on April 19, 2004 which led to Mr Durai suing Singapore Press Holdings for defamation.
During the trial, about one and a half year ago, details about his pay and perks were released and eventually resulted in the resignation of the entire old NKF board.
Subsequently, the management practices at the old NKF came to light after a six month investigation by KPMG, an audit firm.
After this civil case is over, Mr Durai will have to be present in court at the end February to face two criminal charges.
During the three week trial, he will have to answer to charges under the Prevention of Corruption Act.
He has been charged with intent to deceive NKF by submitting false documents.
Other than Mr Durai, who is currently out on a $50,000 bail, Ms Chua, Mr Yong and Mr Loo also face criminal charges. - CNA /dt
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