MATERIAL LITIGATION Ire-Tex Corporate Berhad (Ire-Tex or the Company) Kuala Lumpur High Court (Commercial Division) Civil Suit No. WA-22NCC-314-07/2017 (Suit 314) Writ of Summons and Statement of Claim by Ire-Tex against:- (1) OGL ASIA RESOURCES (2) KONG HON KAY (3) CHRISTOPHER PURCELL (4) LAI SOON ONG (collectively referred to as the Defendants)

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
Ire-Tex Corporate Berhad (Ire-Tex or the Company)  
Kuala Lumpur High Court (Commercial Division) Civil Suit No. WA-22NCC-314-07/2017 (Suit 314)    
Writ of Summons and Statement of Claim by Ire-Tex against:-
(1) OGL ASIA RESOURCES (2) KONG HON KAY (3) CHRISTOPHER PURCELL (4) LAI SOON ONG
(collectively referred to as the Defendants)

The Board of Directors of Ire-Tex wishes to announce that the Company had, via its solicitors, Messrs. Wei Li Tan & Cheong, filed a Writ of Summons and Statement of Claim in the High Court of Malaya at Kuala Lumpur against the above named Defendants.

The claim includes the following prayers:-

  1. Judgment against the 1st Defendant in the sum of RM1,836,232.14;
  2. Judgment against the 2nd Defendant in the sum of RM1,836,232.14;
  3. Judgment against the 3rd Defendant in the sum of RM1,087,150.20;
  4. Judgment against the 4th Defendant in the sum of RM1,836,232.14;
  5. Interest of 5% p.a. to be imposed from 21.10.2016 till date of full payment;
  6. Damages to be assessed;
  7. Costs;
  8. Any other order that is necessary or beneficial; and
  9. Liberty to apply.

The gist of the above action is that the 2nd to 4th Defendants’ who were officers of the Company during the material time have breached various duties owed to the Company by reason of making unlawful payments to the 1st Defendant. The 1st Defendant did not have any right to bill the Company and/or receive any payments from the Company as it did not render any services to the company nor supply any goods to the company.

The Court has fixed the matter for case management on 14 August 2017 at 9:00 a.m. before the Senior Assistant Registrar, Tuan Mohd Afif bin Ahmad Zamanhuri at the Kuala Lumpur High Court, Jalan Duta.

Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 1 August 2017.






Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 01 Aug 2017
Category General Announcement for PLC
Reference Number GA1-01082017-00061