OUE Lippo Healthcare said on Monday that funds owned by Crest Capital Asia have agreed to pay it a sum of S$12.6 million.
In July, the Singapore High Court had issued a favourable judgement for the company in respect of a suit, and held that the Crest entities are jointly and severally liable for an aggregated sum of S$12.6 million. On Aug 29, the Crest entities agreed to repay the judgment debt to the company, plus interest calculated at 5.33 per cent per annum, through three instalments on Sept 3, Sept 24 and Oct 15.
As announced previously on July 16, the Crest entities filed an appeal against the judgement. The Court of Appeal may affirm, vary or set aside the judgment, including the judgment debt. OUE Lippo Healthcare was formerly known as International Healthway Corp, before it was acquired by hotel group and developer OUE in 2017.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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