Resources Prima unit faces lawsuit
Tuesday, November 15 2016 - 01:23 AM WIB
SGX-listed coal mining firm Resources Prima Group Limited said that its Indonesian subsidiary PT Rinjani Kartanegara is facing a lawsuit filed by Tan Kim Sing in Singapore.
The company said in a statement on Monday that Rinjani has been formally served with a writ of summons and statement of claim.
According to the statement of claim against Rinjani, the plaintiff claims against Rinjani for the payment of approximately S$16.1 million, representing fees and expenses allegedly owed in respect of fund raising and other services rendered to Rinjani pursuant to an agreement entered into between Rinjani and Newbreed Capital Limited in or around March 2011, or alternatively damages for breaches of the Fund Raising Agreement. The plaintiff alleges that he is the current assignee of all the benefits under the Fund Raising Agreement.
?The company is currently seeking legal advice and will, in consultation with its legal advisors, take such steps as necessary to vigorously defend the plaintiff?s claim against Rinjani,? Resources Prima said.
Editing by Reiner Simanjuntak