Civil engineering group China Development Corp is suing seven former directors, including Singaporean businessman Oei Hong Leong, for $7 million in remuneration paid to them.
Formerly Sum Cheong International, the company filed a High Court writ claiming the money as well as damages for breach of fiduciary duty when the defendants served as directors until December 29 last year.
The claim arose after China Development shareholders voted their disapproval of the former directors' remuneration and last year's audited financial statements at their annual meeting on December 29.
Apart from Mr Oei, other former directors named in the writ are Ernest Lai Min-enn, Ong Chit-chung, Mico Chung Cho-yee, Albert Hong Hin-kay, Kan Fook-yee and Hu Yebi.
China Development said each of the former directors had drawn $1 million from the company.
The company is now headed by chairman Lee Howe-yong and executive directors such as Sukamto Sumitro.
