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)
| 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) |
We refer to our announcements dated 2 June 2011, 28 June 2011, 30 June 2011 and 1 July 2011 on the above matter. The Court of Appeal has on 27 September 2011, dismissed the appeals filed by Metroplex Holdings Sdn Bhd against the orders of the High Court of Malaya in Kuala Lumpur granted on 28 June 2011 and the dismissal by the High Court of Malaya of the application by Metroplex Holdings Sdn Bhd for the consolidation of the case before the High Court of Malaya and another case instituted by Metroplex Holdings Sdn Bhd against OSK Trustees Berhad (as trustee for Sunway Real Estate Investment Trust) (“Trustee”) and Sunway REIT Management Sdn Bhd (“Manager”) (Originating Summons 21NCVC-95-2011). The Court of Appeal also awarded costs of RM200,000 to the Trustee and the Manager. With the dismissal of the appeal, it is affirmed that the Trustee is the rightful owner of Putra Place. The Trustee and the Manager will carry out the orders granted to them by the High Court of Malaya on 28 June 2011, which include taking delivery of control and management of Putra Place and to enforce the order that Metroplex Holdings Sdn Bhd is to pay mesne profits from 19 April 2011 until possession is delivered up. The Manager is also empowered to seek the assistance of the court bailiff and the police to enforce and execute the court order in the event that Metroplex Holdings Sdn Bhd, its servants, agents or otherwise fails to handover control and management of Putra Place or fail to deliver up possession as ordered by the High Court. This announcement is dated 27 September 2011. | |
Announcement Info
| Company Name | SUNWAY REAL ESTATE INVESTMENT TRUST |
| Stock Name | SUNREIT |
| Date Announced | 27 Sept 2011 |
| Category | General Announcement |
| Reference No | SR-110927-56566 |