Guo Lingming, executive chairman of Singapore's real estate giant City Developments Limited (CDL), has obtained support from three directors including former chairman of the Singapore Economic Development Bureau, including Yang Lieguo, and seven directors, including the eldest son, President of the Urban Development Group, Guo Yizhi, Li Yizhen and Deng Aiai, and listed them as respondents.

According to court documents obtained by Lianhe Zaobao, Urban Development and Guo Lingming, together with five applicants including Yang Lieguo, Wang Liangren and Zhang Yongchou, filed an application with the High Court on Tuesday (February 25), demanding that Li Yizhen and Deng Aiai be restricted from exercising their powers as directors of urban development.

The five applicants also listed seven people, including Guo Yizhi, as well as urban development directors Feng Ruiliang, Desbaillets Daniel Marie Ghislain, Huang Suyan, Yang Yufang, Li Yizhen and Deng Aiai as respondents.

The applicants for the five parties are represented by a legal team of LVM Law Chambers LLC, led by senior lawyer Lok Vi Ming. As of the afternoon of Wednesday (26th) when the High Court held a closed-door hearing, the seven respondents did not have any lawyer representatives.

Guo Lingming issued an open letter at 11 a.m. Wednesday, publicly accusing his eldest son and president of Urban Development Group Guo Yizhi of attempting to “seize power”, and said he had submitted documents to the court on Tuesday to deal with Guo Yizhi, Li Yizhen, Deng Aiai and other directors who acted with them, trying to control the actions of the Urban Development Board.

Further reading

Guo Lingming sent the second open letter: The management error of urban development enterprises has stopped

Guo Lingming sent the second open letter: The management error of urban development enterprises has stopped

Urban Development Guo Yizhi promised that the court would not move the management team before the notice

Urban Development Guo Yizhi promised that the court would not move the management team before the notice

He released a second open letter late Wednesday night saying that after Wednesday’s court hearing, serious corporate management errors in Urban Development and its affiliates have now stopped.

According to Guo Lingming's open letter, the two new directors who were rushing to be appointed in violation of regulations on February 7 this year in the form of a written director resolution have promised not to exercise any director's powers until the court further notified.

He said that Guo Yizhi, Li Yizhen and Deng Aiai and the remaining directors acting in concert with them have also promised that they will not take any further action to attempt to make any changes to the board committee and management of the urban development subsidiary until further notice.

In addition, the illegally formed Nomination and Remuneration Committee was suspended for further action.