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A former top agency manager at Prudential Assurance Company Singapore breached his agency agreement by soliciting more than 200 agents and leaders to jump ship to rival insurer Aviva, the High Court has found.
Mr Peter Tan Shou Yi and his company PTO Management and Consultancy (PTOMC) were sued by Prudential for up to $2.5 billion for allegedly “surreptitiously” orchestrating a mass defection of 244 agents and leaders to Aviva subsidiary Aviva Financial Advisers in mid-2016.
The move left 70,000 policies without agents as a result.
Mr Tan provides services to Aviva through PTOMC, a corporate vehicle he owns that receives bonuses and benefits from Aviva to recruit new agents.
PTOMC is the company through which Mr Tan is providing services to Aviva.
Justice Chua Lee Ming, in an oral judgment issued on Wednesday afternoon (May 5), said that the losses that Prudential suffered is for profits that it could have earned from the departed agents from May 9, 2016, to July 23 that same year.
The assessment of losses would be calculated by UK consultancy Berkeley Research Group s chairman Richard Boulton, the judge added.
The judge dismissed Prudential s claim that Mr Tan had breached his fiduciary duty, as well as its claim that PTOMC had dishonestly assisted Mr Tan in poaching the agents and agency leaders.
Man acquitted of sexually abusing stepson but jailed for stalking his girlfriend, criminal intimidation Toggle share menu
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File photo of the Supreme Court in Singapore (Photo: Jeremy Long)
04 May 2021 09:20PM) Share this content
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SINGAPORE: A man accused of sexually grooming his stepson over nine years to the extent that the underage boy asked for sexual acts was acquitted of all sex offences against him on Tuesday (May 4).
The 55-year-old man, who cannot be named because of a gag order protecting his stepson s identity, was convicted of two other charges of stalking his stepson s girlfriend and criminal intimidation against his wife and stepson.
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A 55-year-old man, who was accused of sexually assaulting his stepson when the younger man was between eight and 17 years old, was yesterday acquitted of 13 charges involving various sexual offences.
But he was convicted of two other charges, for stalking his stepson s girlfriend and for criminal intimidation by pointing a chopper at his wife and threatening to kill his stepson.
The man, a former supermarket storekeeper, was sentenced to a year s jail on these two charges. The jail term was backdated to Dec 3, 2018, when he was remanded in custody.
In clearing the man of the sexual offences allegedly committed between 2007 and 2015, High Court Judge Chua Lee Ming listed numerous and extensive inconsistencies in the stepson s account.
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The High Court has dismissed a civil suit against the Attorney-General, a deputy attorney- general and five prosecutors by a Malaysian drug runner who was spared the death penalty last year.
Justice Chua Lee Ming granted the defendants application to strike out Gobi Avedian s suit last Thursday, saying his claim was unsustainable.
The defendants are the office of the Attorney-General, current Attorney-General Lucien Wong, deputy attorney-general Hri Kumar Nair, deputy chief prosecutor Mohamed Faizal Mohamed Abdul Kadir, and prosecutors Tan Zhongshan, Nicholas Wuan, Chin Jincheng and Chong Kee En.
Gobi, through his then lawyer M. Ravi, had sued the defendants and deputy attorney-general Lionel Yee in November last year. The suit against Mr Yee was later dropped.