MATERIAL LITIGATION SUNWAY REAL ESTATE INVESTMENT TRUST - LEGAL PROCEEDINGS INSTITUTED BY METROPLEX BERHAD (PROVISIONAL LIQUIDATORS APPOINTED) AGAINST COMMERCE INTERNATIONAL MERCHANT BANKERS BERHAD, OSK TRUSTEES BERHAD, SUNWAY REAL ESTATE INVESTMENT TRUST, SUNWAY REIT MANAGEMENT SDN BHD AND AHMAD FAIRUZ BIN MOHD PUZI (AS AN OFFICER OF THE COURT HAVING CONDUCT OF THE AUCTION OF PUTRA PLACE ON 30 MARCH 2011 (ORIGINATING SUMMONS NO: 24NCVC-952-2011)
| SUNWAY REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | SUNWAY REAL ESTATE INVESTMENT TRUST - LEGAL PROCEEDINGS INSTITUTED BY METROPLEX BERHAD (PROVISIONAL LIQUIDATORS APPOINTED) AGAINST COMMERCE INTERNATIONAL MERCHANT BANKERS BERHAD, OSK TRUSTEES BERHAD, SUNWAY REAL ESTATE INVESTMENT TRUST, SUNWAY REIT MANAGEMENT SDN BHD AND AHMAD FAIRUZ BIN MOHD PUZI (AS AN OFFICER OF THE COURT HAVING CONDUCT OF THE AUCTION OF PUTRA PLACE ON 30 MARCH 2011 (ORIGINATING SUMMONS NO: 24NCVC-952-2011) |
We refer to our announcement dated 27 April 2011 on the above matter whereby Metroplex Berhad had amongst others, sought to set aside the sale of Putra Place, claiming that the auction held on 30 March 2011 was not a valid public auction and that OSK Trustees Berhad (as trustee for Sunway Real Estate Investment Trust) was not entitled to bid at the public auction. The High Court of Malaya in Kuala Lumpur today allowed the applications by OSK Trustees Berhad (as trustee for Sunway Real Estate Investment Trust) and Sunway REIT Management Sdn Bhd to strike out the legal action with costs of RM40,000 to be paid by the provisional liquidator of Metroplex Berhad on the ground that Metroplex Berhad did not have any right to bring the legal action in relation to the public auction. This announcement is dated 27 July 2011. | |
Announcement Info
| Company Name | SUNWAY REAL ESTATE INVESTMENT TRUST |
| Stock Name | SUNREIT |
| Date Announced | 27 Jul 2011 |
| Category | General Announcement |
| Reference No | SR-110727-5314E |