Brief: Lippo Says Co & Hongkong Chinese Were Notified Of Court Case In Singapore

Hongkong Chinese

02/11/2022 10:19

Nov 2 (Reuters) - Lippo Ltd  0226.HK :
    * CO & HONGKONG CHINESE NOTIFIED BY ONE OF THEIR ASSOCIATED
COMPANIES IN ON COURT CASE IN SINGAPORE
    * COURT IN SINGAPORE FOUND PARTIALLY IN FAVOUR OF BANK IN
ITS
ALLEGATION THAT IT SUFFERED LOSSES AND DAMAGES ARISING FROM BANK
DISBURSING LOANS
    * LIPPO & HKC DO NOT EXPECT LEVEL OF DAMAGES LIKELY TO BE
AWARDED
AGAINST ASSOCIATED CO WILL HAVE MATERIAL IMPACT ON THEIR
FINANCIAL POSITION
    * AMOUNT OF DAMAGES WILL BE DETERMINED BY A FORMAL PROCESS
IN
FRONT OF SINGAPORE HIGH COURT

Source text for Eikon:  ID:nHKS3v48W8 
Further company coverage:  0226.HK 
 ((Reuters.Briefs@thomsonreuters.com;))