MATERIAL LITIGATION MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD (Ire-Tex or the Company) - Writ of Summons and Statement of Claim by Ire-Tex against Tey Por Yee, Lim Chye Guan, Future Rank Sdn. Bhd., Mohd Zamzuri Bin Zakaria and Musa Bin Abu Bakar in the High Court of Malaya at Kuala Lumpur (Civil Suit No.: WA-22NCC-122-04/2017)

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD (Ire-Tex or the Company) - Writ of Summons and Statement of Claim by Ire-Tex against Tey Por Yee, Lim Chye Guan, Future Rank Sdn. Bhd., Mohd Zamzuri Bin Zakaria and Musa Bin Abu Bakar in the High Court of Malaya at Kuala Lumpur (Civil Suit No.: WA-22NCC-122-04/2017)

Reference is made to the Company’s earlier announcements dated 7 April 2017 and 13 April 2017.

 

The Board of Directors of Ire-Tex wishes to announce that the Company had on 4 December 2017, via its solicitors, Messrs. Josephine L K Chow & Co, withdrawn the Writ of Summons and Statement of Claim in the High Court of Malaya at Kuala Lumpur against Tey Por Yee, Lim Chye Guan, Future Rank Sdn. Bhd., Mohd Zamzuri Bin Zakaria and Musa Bin Abu Bakar (Civil Suit No.: WA-22NCC-122-04/2017) where cost is to be agreed upon.

 

The Suit was filed by the previous solicitor of the Plaintiff despite the lack of supporting material evidence. Due to change of board members and the personnel instructing the solicitors, it is now difficult to identify viable witnesses and maintain the Suit.

 

The withdrawal of the Suit is not expected to have any financial impact to the Company.






Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 04 Dec 2017
Category General Announcement for PLC
Reference Number GA1-04122017-00127