Release: Cheo Ming Shen wins Summary Judgement and Appeal in High Court Suit against Netccentric Limited
27th July 2018
I’m happy to announce that yesterday morning (26th July 2018), the High Court of Singapore dismissed Netccentric’s appeal in full and affirmed the earlier order of 18 June 2018 – That Netccentric is to pay me $245,938.75 plus $17,000 in legal costs. The High Court also ordered additional costs against Netccentric for losing today’s appeal.
I am glad that justice has prevailed. Netccentric’s baseless allegations of fraud were disallowed in full and dismissed twice over. The High Court also noted that Angeline Chiam’s, Desmond Kiu’s and Timothy Tiah’s evidence contradicted each other. It is clear that the Court did not believe their evidence.
I will continue to rigourously contest Netccentric’s baseless claims and hold those involved personally responsible.
My previously release is appended below for further context.
Cheo Ming Shen succeeds in obtaining summary judgement against Netccentric Limited in the High Court
18th June 2018
I am pleased to announce today (18th June 2018), that I have successfully obtained summary judgement against Netccentric Limited (“Netccentric”), the company I co-founded in 2006, for the sum of $245,938.75 (“Judgement Sum”), in the High Court in Singapore, via Suit No. 838 of 2017. The High Court also ordered Netccentric to pay me $17,000 in legal costs for losing to me.
Summary judgement is a process where the Court awards judgement on issues which are clear and do not require a trial.
The Judgement Sum ordered against Netccentric by the High Court was in relation to loans and other claims that were recorded as amounts due and owing to me in the latest audited financial statements of the Company, signed off and approved by Timothy Tiah and Martyn Thomas.
Despite personally signing off and approving the audited accounts and amounts due to me, Timothy Tiah, Desmond Kiu took the position, for the first time, in this lawsuit against Netccentric, that the monies were not due to me. I am disappointed that Timothy Tiah would go to such lengths to try to now conveniently object to a formal financial document that he himself signed and approved.
I am therefore glad that after considering all the facts, the High Court took the view that it was “troubled” by Netccentric’s “different and at times inconsistent” positions and proceeded to award judgement against Netccentric in my favour for those amounts listed as due to me in Netccentric’s audited accounts.
Finally, I note that the Company had released an announcement in relation to a claim it had brought against me in the State Courts of Singapore. As a significant shareholder of the Company, I am surprised and disappointed that the Company had failed to similarly disclose that I had sued it by way of High Court Suit No. 838 for a much higher amount.
I fully intend to actively defend the Company’s claim which is wholly without merit. In the same vein, I fully intend to enforce the Judgement Sum and costs awarded to me, and if Netccentric does not pay up, I will proceed to apply to wind up Netccentric as I am entitled to as a Judgement Creditor.
I will be making a formal demand for the Judgement Sum and the costs awarded to me shortly, through my solicitors.