Brief: Aspen (Group) Says Unit Received Writ Of Summons Filed By Group Of Purchasers Of AVC's Development Properties

Aspen (Group) Holdings

02/03/2022 11:27

March 2 (Reuters) - Aspen (Group) Holdings Ltd  ASPE.SI :
    * UNIT, ON 24 FEB RECEIVED WRIT OF SUMMONS ENDORSED WITH
STATEMENT
OF CLAIM FILED BY GROUP OF PURCHASERS OF AVC'S DEVELOPMENT
PROPERTIES
    * SOUGHT FORMAL LEGAL ADVICE ON SUIT TO ASSESS AVC'S LEGAL
POSITION AND WHETHER SUIT COULD REASONABLY BE CHARACTERISED AS
BOUND TO FAIL
    * SUIT IS NOT EXPECTED TO HAVE ANY MATERIAL FINANCIAL
IMPACTS ON
GROUP PENDING OUTCOME OF LEGAL PROCEEDINGS
    * PURSUANT TO WRIT, PLAINTIFFS ARE CLAIMING, SUM OF 7.3
MILLION
RGT
    * CLAIMS FOR ALLEGED LATE DELIVERY OF VACANT POSSESSION OF
DEVELOPMENT PROPERTIES UNDER DEAL  ENTERED BETWEEN AVC,
PLAINTIFFS

Source text for Eikon:  ID:nSN2KdfQ0 
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