Tycoon's divorce in spotlight
Tue, Nov 18, 2008
The Straits Times

By Michelle Tay

DAY 39 of the long-running Raffles Town Club legal saga took a dramatic turn on Tuesday with lawyers for RTC thrusting billionaire investor Peter Lim's former divorce proceedings back into the spotlight.

Allen & Gledhill lawyer Ang Cheng Hock accused Mr Lim of juggling the club's loans and payments to hide his assets from his ex-wife, Ms Venus Teo, with whom he went through a messy and high-profile divorce from 1995 to 1999.

Mr Ang said that Mr Lim purposefully waited until August 2000 to claim his promised 40 per cent shareholding in the club, because his divorce proceedings did not conclude until June 2000.

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