Brief: Oceanus Group updates on dispute with creditor

Oceanus

17/03/2016 11:24

March 17 (Reuters) - Oceanus Group Ltd  OCGL.SI : 
 * Dispute with hua xin zhong an bao an fu wu you Xian gong si)  OCGL.SI  
 * The creditor informed US on 14 March 2016 that it has taken control over and 
   is occupying the abalone farm" 
 * Dispute arose mainly due to slow payment, resulting from disagreements in 
   level of services provided, between co and the creditor 
 * Says company does not accept that the creditor has a legitimate legal claim 
 * Says the co is of the view the creditor has no legal basis to take the steps 
   that they have 
 
 * Source text for Eikon  ID:nSNZ6mHJ2D  
 
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