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MATERIAL LITIGATION UPDATE ON MATERIAL LITIGATION: (a) HONG LEONG BANK BERHAD (HLBB) vs KONSORTIUM BAS EKSPRES SEMENANJUNG (M) SDN BHD (KBESM) and GETS GLOBAL BERHAD ("GETS"); (b) HONG LEONG BANK BERHAD (HLBB) vs KONSORTIUM BAS EKSPRES SEMENANJUNG (M) SDN BHD (KBESM); and (c) HONG LEONG BANK BERHAD vs SUPER COACH ASSEMBLY PLANT SDN BHD (SCAP) & GETS GLOBAL BERHAD

GETS GLOBAL BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
UPDATE ON MATERIAL LITIGATION: 
(a) HONG LEONG BANK BERHAD (HLBB) vs KONSORTIUM BAS EKSPRES SEMENANJUNG (M) SDN BHD (KBESM) and GETS GLOBAL BERHAD ("GETS");
(b) HONG LEONG BANK BERHAD (HLBB) vs KONSORTIUM BAS EKSPRES SEMENANJUNG (M) SDN BHD (KBESM); and
(c) HONG LEONG BANK BERHAD vs SUPER COACH ASSEMBLY PLANT SDN BHD (SCAP) & GETS GLOBAL BERHAD

Further to the Company's announcements dated 31 July 2019, 9 August 2019, 14 August 2019, 21 August 2019, 30 August 2019, 18 September 2019, 1 October 2019, 3 October 2019, 31 October 2019, 29 November 2019, 31 December 2019, 15 January 2020, 23 January 2020, 31 January 2020, 28 February 2020, 31 March 2020, 30 April 2020, 29 May 2020, 30 June 2020, 9 July 2020, 17 July 2020, 21 July 2020, 23 July 2020, 30 July 2020, 28 August 2020,  30 September 2020, 7 October 2020, 21 October 2020 and 3 December 2020, the Company wishes to update that HLBB, KBESM, GETS and SCAP have reached a private settlement in relation to the above suits. As such, by consent of all parties, the Court had granted KBESM and GETS' application to set aside the Order and the Summary Judgment dated 25 February 2020 obtained by HLBB against KBESM and GETS on 2 December 2020 wherein HLBB has no liberty to file afresh the above suit against KBESM and GETS and no order as to costs.

On 17 December 2020, by consent of all parties, the Court had granted KBESM’s application to set aside the Order for Sale granted to HLBB on 11 June 2020 wherein HLBB has no liberty to file afresh the above suit against KBESM and no order to costs.

Similarly, the Court on 17 December 2020, had also granted SCAP and GETS’ application to set aside the Judgment in Default of Appearance obtained by HLBB on 17 September 2019 against SCAP and GETS wherein HLBB has no liberty to file afresh the above suit against SCAP and GETS and no order as to costs.

This announcement is dated 21 December 2020.






Announcement Info

Company Name GETS GLOBAL BERHAD
Stock Name GETS
Date Announced 21 Dec 2020
Category General Announcement for PLC
Reference Number GA1-21122020-00048




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