The family alleges Mr Manoj Murjani's buyout offer was conditional on them not using the 'Violet Oon' name forever. Read more at straitstimes.com.
SINGAPORE - When Peranakan cuisine icon Violet Oon and her two children gave half of their company to businessman Manoj Murjani in 2014, they believed they had found a business partner who could take her brand international.
In April, Mr Murjani made an offer to buy the family out for $6 million, on the condition that the family cannot use the “Violet Oon” name forever.The family is seeking a court order to allow them to buy Group MMM’s shares in the company, at a price to be separately determined by the court or a court-appointed valuer.
The family said they had legitimate expectations that each side would bear their fair share of the financial responsibility in running the company; that the company’s branding would remain rooted in Ms Oon’s personal identity; and that the family would be involved in the day-to-day management, while the defendants would inject funds and provide mentorship to grow the business.
The family said that in November 2017, Mr Murjani began making demands to be inserted into the brand narrative as a co-founder of the company. They also accused Mr Murjani of cutting Ms Oon out of the company’s narrative, by shifting the brand to “VO Singapore” and adding the words “a Group MMM partnership”.
The defendants argued that the company was not a quasi-partnership formed on the basis of mutual trust and confidence, and there were therefore no legitimate expectations beyond the written agreements.Mr Murjani said the February 2019 agreement was not made under duress, but in the spirit of amicably moving forward and building the company together.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
For Hong Kong's youth, government-backed hostels offer a smidgen of housing hopeHONG KONG: For most young adults, moving out of home is a rite of passage but in Hong Kong - notorious for its chronic lack of housing - it's usually an unaffordable dream. Silver Ho, a 26-year-old hair stylist assistant who was tired of arguing with his parents, counts himself as one of the lucky ones. Tw
Read more »
Azarenka booed off court for failing to offer Svitolina obligatory handshakeLONDON : Win or lose, Victoria Azarenka knew there would be no handshake offered by Ukrainian rival Elina Svitolina at the end of Sunday's Wimbledon contest that had been billed as the 'battle of the mums'.What the Belarusian did not expect was to be booed off court after she had played her part in entert
Read more »
Japan sea sludge tells story of human impact on earthLayers of sediment and sludge beneath the seawater in Japan’s Beppu Bay offer clues about the past. Read more at straitstimes.com.
Read more »
Amazon Prime Day returns from Jul 11 to 12 with thousands of deals on toys, books and moreBanks such as UOB and POSB will also offer additional discounts for card holders. Time to start adding to cart?
Read more »
Trial opens for 50 Vietnam officials over rescue flight bribesHANOI: More than 50 officials went on trial in Vietnam on Tuesday (Jul 11) for alleged corruption over repatriation flights during the COVID-19 pandemic, a scandal that has seen several senior ministers fired. The case is part of a major anti-corruption drive that led to
Read more »
Trial opens over deadly 2019 New Zealand volcano disasterThe eruption off the coast of the country’s North Island claimed 22 lives and left dozens more with horrific injuries. Read more at straitstimes.com.
Read more »