Mirae Asset Daewoo awarded US$5.1m claim against ex-honestbee CEO Joel Sng
SOUTH Korean brokerage Mirae Asset Daewoo has been awarded a summary judgment for a US$5.1 million claim against former honestbee chief executive Joel Sng, according to a High Court grounds of decision released on Thursday.
Mirae Asset had sued Mr Sng last year for allegedly failing to deliver honestbee shares, after the brokerage paid US$5.1 million for some of Mr Sng's shares in the grocery delivery startup.
Mirae Asset is the trustee of an entity called DS Sng Hedge Fund, and filed the lawsuit on behalf of the fund. Mirae Asset subsequently filed a summary judgment application against Mr Sng - which involves moving to a court decision without a full trial.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
SoftBank leads US$1 billion funding for UK self-driving startup Wayve
Singapore battles to revive struggling stock market
Singapore’s Anywheel gets green light to expand fleet to 35,000
Vietnam education startup Prep bags US$7 million in Series A funding
Cruise operator Viking prices IPO within range to raise US$1.54 billion: source
Ninja Van axes more than 20 employees in tech team in Singapore