MATERIAL LITIGATION SUNWAY REAL ESTATE INVESTMENT TRUST - LEGAL PROCEEDINGS INSTITUTED BY OSK TRUSTEES BERHAD (AS TRUSTEE FOR SUNWAY REAL ESTATE INVESTMENT TRUST) AND SUNWAY REIT MANAGEMENT SDN BHD AGAINST METROPLEX HOLDINGS SDN BHD (ORIGINATING SUMMONS NO: 24NCVC-1255-2011) - APPEAL BY METROPLEX HOLDINGS SDN BHD (COURT OF APPEAL W-02[NCVC]-1680-11 AND W-02(IM)(NCVC)-1773-2011) - APPLICATION FOR LEAVE TO APPEAL BY METROPLEX HOLDINGS SDN BHD (FEDERAL COURT 08-425-09-2011)
| SUNWAY REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | SUNWAY REAL ESTATE INVESTMENT TRUST - LEGAL PROCEEDINGS INSTITUTED BY OSK TRUSTEES BERHAD (AS TRUSTEE FOR SUNWAY REAL ESTATE INVESTMENT TRUST) AND SUNWAY REIT MANAGEMENT SDN BHD AGAINST METROPLEX HOLDINGS SDN BHD (ORIGINATING SUMMONS NO: 24NCVC-1255-2011) - APPEAL BY METROPLEX HOLDINGS SDN BHD (COURT OF APPEAL W-02[NCVC]-1680-11 AND W-02(IM)(NCVC)-1773-2011) - APPLICATION FOR LEAVE TO APPEAL BY METROPLEX HOLDINGS SDN BHD (FEDERAL COURT 08-425-09-2011) |
We refer to our announcements dated 2 June 2011, 28 June 2011, 30 June 2011, 1 July 2011 and 27 September 2011 on the above matter. Metroplex Holdings Sdn Bhd has today served the Notice for Application for Leave to Appeal, the Notice of Motion (Ex parte) dated 28 September 2011 for stay of execution, the affidavit-in-support affirmed by Hemaashri Mohney on 27 September 2011 and the draft ex-parte interim order for stay of execution dated 28 September 2011 granted by Federal Court on the lawyers acting for OSK Trustees Berhad (acting as trustee for Sunway Real Estate Investment Trust) (“Trustee”) and Sunway REIT Management Sdn Bhd (“Manager”). The Federal Court granted the following ex-parte orders to Metroplex Holdings Sdn Bhd: (a) the order of the High Court of Malaya in Kuala Lumpur dated 28 June 2011 via Originating Summons No 24NCVC-125502011 is stayed temporarily until 4 October 2011; (b) the motion is to be heard inter-partes on 4 October 2011; (c) the notice of motion dated 28 September 2011 is to be served on the Trustee and the Manager not later than 29 September 2011; and (d) the cost of the application is to be cost in the Application for Leave. The application for the stay of execution has been fixed for hearing inter-partes on 4 October 2011. Following the decision of the Court of Appeal on 27 September 2011 in dismissing the appeal by Metroplex Holdings Sdn Bhd and prior to the service of the draft interim order for stay of execution, Metroplex Holdings Sdn Bhd had already delivered possession and control of Putra Place to the Trustee and the Manager in accordance with the order granted by the High Court of Malaya on 28 June 2011. This announcement is dated 29 September 2011. | |
Announcement Info
| Company Name | SUNWAY REAL ESTATE INVESTMENT TRUST |
| Stock Name | SUNREIT |
| Date Announced | 29 Sept 2011 |
| Category | General Announcement |
| Reference No | SR-110929-65015 |