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 and 29 September 2011 on the above matter. Today the Federal Court heard and dismissed the application by Metroplex Holdings Sdn Bhd for the stay of execution of the orders of the High Court of Malaya granted on 28 June 2011 (“Orders”), including the control and possession of Putra Place, with costs of RM30,000. With the dismissal of the stay application, OSK Trustees Berhad (as trustee for Sunway Real Estate Investment Trust) and Sunway REIT Management Sdn Bhd will execute the remaining parts of the Orders that have not been enforced, which include the orders that Metroplex Holdings Sdn Bhd is: a) restrained from holding itself out as the owner of Putra Place and from controlling and managing Putra Place or remaining on or entering Putra Place; b) to pay mesne profits from 19 April 2011 until possession is delivered up; c) to provide all accounting records and a true account of all income and receipts derived or received by it from Putra Place since 19 April 2011 together with all supporting documents and to pay all such income and receipts to Sunway Real Estate Investment Trust; d) to pay interest on all sums ordered to be paid at such rate and for such period the the Court deems proper; and e) restrained from lodging any further private caveat over Putra Place and any private caveat lodged by them after 29 April 2011 be also cancelled and removed forthwith by the Pendaftar Hakmilik Wilayah Persekutuan. If Metroplex Holdings Sdn Bhd fails to comply with the Orders, either by itself or through its agents or its employees or its representatives, Haron Bin Dato’ (Dr) Mohd Salleh, Lim Siew Kim and Mok Pak Hong as directors and/or officers of Metroplex Holdings Sdn Bhd may be cited for process of execution as a means of compelling Metroplex Holdings Sdn Bhd to comply. This announcement is dated 4 October 2011. | |
Announcement Info
| Company Name | SUNWAY REAL ESTATE INVESTMENT TRUST |
| Stock Name | SUNREIT |
| Date Announced | 4 Oct 2011 |
| Category | General Announcement |
| Reference No | SR-111004-93DEB |