MATERIAL LITIGATION MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD ("IRETEX" or "the Company") Kuala Lumpur High Court Suit No: WA-22NCC-244-06/2017 Ire-Tex Corporation Berhad vs Dato' Tey Por Yee & 19 Ors

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD ("IRETEX" or "the Company") Kuala Lumpur High Court Suit No: WA-22NCC-244-06/2017 Ire-Tex Corporation Berhad vs Dato' Tey Por Yee & 19 Ors

Reference is made to the Company earlier announcements 21 June 2017 and 28 June 2017.

 

The Board of Directors of IRETEX wishes to announce that the Company had on 15th December 2017, via its Solicitors, Messrs Josephine LK Chow & Co, withdraw the Writ of Summons and Statement of Claims in the High court of Malaya at Kuala Lumpur against 20 others (Kuala Lumpur High Court Suit No: WA-22NCC-244-06/2017).

 

The case is withdrawn as the suit is unsustainable. For cost reasons the suit should not be maintained due to the numerous applications to strike out filed by several defendants.

 

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 15 Dec 2017
Category General Announcement for PLC
Reference Number GA1-15122017-00109