A Singapore court dismissed a suit by Dubai’s Drydocks World LLC against Singaporean tycoon Tan Boy Tee for breaching an agreement tied to a $2.4 billion takeover deal.
Drydocks, which sued Tan for breaching a three-year non- compete clause, relied on “hearsay evidence,” Singapore High Court Judge Lai Siu Chiu said in an Aug. 25 ruling, publicly released today. Dubai World’s ship-repair unit is appealing the decision, according to the ruling.
