MATERIAL LITIGATION SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT") - WRIT OF SUMMONS AND STATEMENT OF CLAIM BY METROPLEX HOLDINGS SDN BHD ("METROPLEX") AGAINST OSK TRUSTEES BERHAD (NOW KNOWN AS RHB TRUSTEES BERHAD), AS TRUSTEE FOR SUNREIT ("TRUSTEE") AND SUNWAY REIT MANAGEMENT SDN BHD, AS MANAGER FOR SUNREIT ("THE MANAGER") (CIVIL SUIT NO: 22NCVC-523-09/2015) AND FEDERAL COURT APPLICATION FOR LEAVE NO. 08 (f)-53-02/2019(W) AND FEDERAL COURT CIVIL APPEAL NO. 02(f)-93-12/2019(W)
| SUNWAY REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT")
- WRIT OF SUMMONS AND STATEMENT OF CLAIM BY METROPLEX HOLDINGS SDN BHD ("METROPLEX") AGAINST OSK TRUSTEES BERHAD (NOW KNOWN AS RHB TRUSTEES BERHAD), AS TRUSTEE FOR SUNREIT ("TRUSTEE") AND SUNWAY REIT MANAGEMENT SDN BHD, AS MANAGER FOR SUNREIT ("THE MANAGER") (CIVIL SUIT NO: 22NCVC-523-09/2015) AND FEDERAL COURT APPLICATION FOR LEAVE NO. 08 (f)-53-02/2019(W) AND FEDERAL COURT CIVIL APPEAL NO. 02(f)-93-12/2019(W) |
|
We refer to our announcements dated 1 April 2016, 6 November 2017, 22 January 2019, 22 February 2019, 30 August 2019, 25 November 2019 and 15 September 2020 in relation to the above matter.
On 20 February 2019, Metroplex as the Plaintiff, filed motion for leave to appeal to the Federal Court against the Court of Appeal’s Decision (“Motion”). The Motion was allowed on 25 November 2019. Subsequently, Metroplex filed a notice of appeal to appeal against the Court of Appeal’s decision on 2 December 2019 (“Appeal”).
The hearing of the Appeal took place today. The Federal Court has allowed the Appeal with costs of RM100,000 in favour of Metroplex, subject to allocatur. The Court of Appeal's decision has been set aside and the High Court's decision has been reinstated. Both parties will now proceed with assessment of damages proceedings at the High Court to determine the final amount of damages. At this stage, the financial impact cannot be determined pending the outcome of the said assessment proceedings.
This announcement is dated 31 March 2021. |
|
Announcement Info
| Company Name | SUNWAY REAL ESTATE INVESTMENT TRUST |
| Stock Name | SUNREIT |
| Date Announced | 31 Mar 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-31032021-00105 |