SINGAPORE — The owner of alldressedup, a Singapore-based women's wear label, is facing a legal battle with a former landlord.
Tina Tan-Leo, the brand's founder, used to run a luxury store in Singapore called Living The Link before it underwent liquidation in 2010. The store's landlord, Desmond Chong, has accused Tan-Leo of breach of fiduciary duty in a lawsuit filed last week.
Tan-Leo has denied the charges and plans to file her defense with Singapore's High Court on Friday, according to Lionel Leo, Tan-Leo's husband and the chief executive officer of Fashionation, the holding company of her label and other assets. BDO LLP, the business consultancy firm employed by Chong as a liquidator, could not be reached for comment on Monday.
The landlord alleges that Tan-Leo transferred 7.29 million Singapore dollars, or $5.73 million at current exchange, of cash and assets in 2008 and 2009 from Living The Link to alldressedup and The Link Boutique, a luxury fashion and matrimonial wear chain she runs with branches in Singapore and Shanghai.
The lawsuit also claims that Tan-Leo and her husband allegedly used company funds for personal expenses such as a country club membership.
Lionel Leo denied the allegations. "We are of the opinion that there was no wrongful doing or breach of fiduciary duty," he said. " It is proper for us to return assets to the rightful owner."
Leo said that cash and assets from the Living The Link store were transferred to alldressedup and The Link Boutique to finance obligations due to the latter two companies, which were creditors to the shuttered store.
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