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MATERIAL LITIGATION AMANAHRAYA REAL ESTATE INVESTMENT TRUST (ARREIT)

AMANAHRAYA REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject MATERIAL LITIGATION
Description
AMANAHRAYA REAL ESTATE INVESTMENT TRUST (ARREIT)

Kuala Lumpur High Court Civil Suit No: 22NCVC-476-10/2014

Standard Confectionary Sdn Bhd (“1st Plaintiff”) and High-5 Conglomerate Berhad (formerly known as Silver Bird Group Berhad) (“2nd Plaintiff”) v Amanah Raya Berhad (“1st Defendant”), CIMB Islamic Trustee Berhad (as Trustee for ARREIT) (“the Trustee”), Dato’ Tan Han Kook (“3rd Defendant”) and Dato’ Ahmad Rodzi Pawanteh (“4th Defendant”)

 

Unless otherwise defined herein, the definition used in this announcement shall carry the same meaning as defined in the announcement dated 23 October 2014, 31 October 2014, 28 November 2014, 7 January 2015, 8 January 2015, 16 January 2015 , 29 January 2015, 2 March 2015, 9 March 2015, 23 March 2015 and 23 June 2015.

AmanahRaya-REIT Managers Sdn. Bhd, the Manager of ARREIT, is pleased to announce that today, the High Court of Kuala Lumpur has delivered its judgment in relation to Counterclaim and granted the following orders in favour of the Trustee:

a) Payment of the outstanding lease rental of RM608,000 per month commencing from 16.08.2013 until delivery of the vacant possession of the Property to the Trustee;

b) Payment of ‘double rental’ of RM608,000 per month commencing from 16.08.2013 until delivery of the vacant possession of the Property to the Trustee;

c) Interest at the rate of 3% p.a. on any sum assessed and awarded by the Court from the date the lease rental and/or ‘double rental’ becomes due and payable until 16.10.2014;

d) A declaration that High-5 and/or persons claiming to have derived their rights from High-5 who are in occupation of the Property without the Trustee’s consent are in wrongful occupation of the Property;

e) High-5 and/or its employees and/or its agents and any persons claiming to have derived their rights from High-5 and/or any persons who are in occupation of the Property without the Trustee’s consent, deliver vacant possession of the Property to the Trustee within 21 days from the date of service of the order;

f) High-5 and/or its employees and/or its agents and any persons claiming to have derived their rights from High-5 and/or any persons who are in occupation of the Property without the Trustee’s consent, remove their belongings and/or cause the removal of their belongings from the Property within 21 days from the date of service of the order;

g)The Trustee be allowed to place security guards at the Property immediately upon the Order herein;

h)In the event of a failure to obey the orders under (e) and (f) above, the Trustee be given leave to re-enter the Property in order to lock up the Property without prejudice to the Trustee’s right to apply for writ of possession;

i) Costs of RM25,000;

j) Consequential relief for the payment of quit rent, assessment, general and fire insurance of the Property in arrears; and

k) Interest at the rate of 5% p.a. on the sum assessed and awarded by the Court from the date of the filing of the Writ of Summons and Statement of Claim i.e. 17.10.2014 until the date of full and final settlement.

 

This announcement is dated 29 June 2015.

 






Announcement Info

Company Name AMANAHRAYA REAL ESTATE INVESTMENT TRUST
Stock Name ARREIT
Date Announced 29 Jun 2015
Category General Announcement for PLC
Reference Number GA1-29062015-00074




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