The claim of $130 million, which has been brought by the Raffles Town Club (RTC) in a mega-trial pitting the Bukit Timah club against its former shareholders and directors in front of High Court, is dismissed by the Judge.

Justice Chan Seng Onn dismissed the claim of the plaintiff, RTC, in its entirety in a 137-page judgment dated last Saturday.

In the high-profile, high-stakes case that kicked off in September 2008, RTC sought after more than $130 million from club founding directors Mr. Dennis Foo, Mr. Lawrence Ang and Mr. William Tan - and ex-remisier king Peter Lim, an RTC consultant up to April 2001. RTC had said the four had breached fiduciary duties to the club, misapplied its property and conspired in relation to the club's launch.

In July 2001, the club was handed over to the Chinese investor Lin Jian Wei and Singaporean businesswoman Margaret Tung, who claimed that the four had drained off the club's money through directors' fees, as well as more than $78 million in management fees to Europa Holdings.

The substantial shareholders of Europa Holdings were Mr. Foo, Mr. Ang and Mr. Tan. And Mr. Lim was also a beneficial shareholder of Europa. There was another allegation on the four them in which they took the excessive membership for the club, about 19,000 members had been accepted with the aim of siphoning off membership fees.