POP HOLDINGS PTE. LTD. v Teo Ban Lim & 3 Ors

POP Holdings sought permission to appeal against the Appellate Division's reversal of a $3.5 million damages award for deceit relating to its acquisition of a majority stake in a foreign worker dormitory company, where the sellers misrepresented the dormitory's legally approved accommodation capacity. The key issue was the correct measure of damages for deceit — specifically whether the Transaction Date Rule applied when the claimant only discovered the fraud after the transaction. The Court of Appeal dismissed the permission application, but provided important clarifications on the Transaction Date Rule and the measure of damages in deceit claims.