GRP Limited Updates on Legal Dispute with EESB
GRP Limited has provided an update on its legal dispute with EESB, announcing that a Consent Order was recorded at the Ipoh High Court. This led to the discharge of a Mareva Injunction, allowing Ratus Nautika access to its business account funds. The civil suit against Ratus Nautika’s directors will be discontinued, and the case is stayed pending arbitration. Ratus Nautika will segregate the disputed funds while maintaining its rights in ongoing adjudication proceedings.
An update from GRP Ltd. ( (SG:BLU) ) is now available.
GRP Limited has announced an update regarding its ongoing legal dispute with EESB. A Consent Order was recorded at the Ipoh High Court, leading to the discharge of a Mareva Injunction that had restricted Ratus Nautika from accessing a significant sum in its business account. The civil suit by EESB against Ratus Nautika’s directors will be discontinued, and the case is stayed pending arbitration. Ratus Nautika has issued a directive to segregate the disputed funds, maintaining its rights in ongoing adjudication proceedings.
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Average Trading Volume: 41,500
Technical Sentiment Signal: Sell
Current Market Cap: S$8.11M
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