MATERIAL LITIGATION 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
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)

Reference is made to the Company’s announcement made on 1 August 2017.

 

Further to the aforesaid, the Board of Directors of Ire-Tex wishes to inform as follows:-

 

(a) In November 2017, the Company’s wholly-owned subsidiary, Ire-Tex (Malaysia) Sdn Bhd (“Ire-Tex (Malaysia)”) appointed a new firm of solicitors, Messrs Jamie Wong to take over conduct of the Kuala Lumpur High Court Suit No. WA-22NCC-314-07/2017 (Suit 314) from its former solicitors, Messrs Wei Li Tan & Cheong;

 

(b) On 28 September 2017, the 2nd Defendant filed an application to strike out Ire-Tex (Malaysia)’s Writ and Statement of Claim of Kuala Lumpur High Court Suit No.   WA-22NCC-314-07/2017 (Suit 314);

 

(c) As at 8 February 2018, Ire-Tex (Malaysia) withdrew its claim (Suit 314) against all the Defendants for inter alia, breach of duties as officers of Ire-Tex (Malaysia) and dishonest assistance in the breach of duties pursuant to the legal advice that the claim is unsustainable as being lacking in particulars. This put to an end to the suit and the matter is considered closed.

 

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






Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 09 Feb 2018
Category General Announcement for PLC
Reference Number GA1-09022018-00113