Violet Oon wins lawsuit, will buy business partner’s 50% stake
Singapore restaurateur Violet Oon and her family have won the civil suit that they brought against their business partner Manoj Murjani, with the High Court ordering them to buy out Murjani’s 50 per cent stake in the company at fair value.
In his judgment on Jan 19, Justice Philip Jeyaretnam noted that the ordering of such a sale should be a rarely taken action by the courts, as it involves interference with property rights.
“However, I hold that this is one such rare case.”
To ensure that Mr Murjani is not punished by such an order, the purchase price for his shares in Violet Oon Inc should be determined by an independent valuer on which both parties agree, said the presiding judge.
Mr Murjani holds a 50 per cent stake in Violet Oon Inc through his sole shareholding of luxury and lifestyle company Group MMM.
Violet Oon Inc runs three Singapore restaurants serving local and Peranakan-inspired cuisine. Oon holds 20 per cent of the company, and her children, 15 per cent each.
Ms Oon and her children, Mr Tay Yiming and Ms Tay Su-Lyn, had brought a shareholder oppression suit against Murjani and Group MMM, with an eight-day trial in July and closing submissions in August last year.
They were seeking either a court order to be able to purchase Murjani’s 50 per cent stake in Violet Oon Inc, or for the company to be wound up.
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