Announcements

Date : 08 February 2018

MATERIAL LITIGATION MATERIAL LITIGATION LEGAL SUIT AGAINST PT ANGLO SLAVIC UTAMA ("1st Defendant"), TEY POR YEE ("2nd Defendant") AND OOI KOCK AUN ("3rd Defendant")

PROTASCO BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MATERIAL LITIGATION LEGAL SUIT AGAINST PT ANGLO SLAVIC UTAMA ("1st Defendant"), TEY POR YEE ("2nd Defendant") AND OOI KOCK AUN ("3rd Defendant")

The Company (“Protasco Berhad”) wishes to update on the status of the application to stay the High Court proceedings initiated by Protasco Berhad in Kuala Lumpur High Court Suit No: 22NCC-362-09/2014 filed by PT Anglo Slavic Utama (“1st defendant”), Tey Por Yee (“2nd defendant”) and Ooi Kock Aun (“3rd Defendant”)  as follows:

On 30 October 2014, PT Anglo Slavic Utama’s application to stay the High Court proceedings initiated by Protasco Berhad in Kuala Lumpur High Court Suit No: 22NCC-362-09/2014 on the basis that arbitration proceedings against PT Anglo Slavic Utama must be concluded first was dismissed by the High Court.

However on 25 February 2016, PT Anglo Slavic Utama’s appeal against the dismissal of the stay of proceedings was allowed and the Company did not pursue any further appeal to the Federal Court. Hence the High Court proceedings against PT Anglo Slavic Utama is stayed.

Following the decision of the Court of Appeal on 25 February 2016 , Tey Por Yee and Ooi Kock Aun filed their application to stay the High Court proceedings pending the disposal of the arbitration proceedings between the Company and PT Anglo Slavic Utama. This application was allowed by the High Court on 20 December 2016.

On 18 January 2017, the Company filed an appeal against the said High Court decision to the Court of Appeal. On 29 January 2018 (wherein the written grounds of judgment clarifying the order was received by the Company on 7 February 2018 from the Court of Appeal), the Court of Appeal has allowed the Company’s appeal against the order staying proceedings in respect of Tey Por Yee and Ooi Kock Aun. The Court of Appeal further ordered that:

  1. The High Court action against Tey Por Yee and Ooi Kock Aun in Kuala Lumpur High Court Suit No: 22NCC-362-09/2014 be remitted back  for hearing; and
  2. The arbitration proceedings between PT Anglo Slavic Utama and the Company to be temporarily stayed pending the disposal of the High Court proceedings only.

The Kuala Lumpur High Court has fixed 9 March 2018 for Case Management. No trial date is fixed yet by the Kuala Lumpur High Court for this legal suit.






Announcement Info

Company Name PROTASCO BERHAD
Stock Name PRTASCO
Date Announced 08 Feb 2018
Category General Announcement for PLC
Reference Number GA1-08022018-00074



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