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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)

Court of Appeal Civil No. W-02(IM) (NCVC)-1092-07/2015 and Court of Appeal Civil No. W-02(IM) (NCVC)-1090-07/2015 

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

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, 23 June 2015, 29 June 2015, 3 July 2015, 14 July 2015, 3 August 2015 and 6 August 2015.

AmanahRaya-REIT Managers Sdn. Bhd., the Manager of ARREIT wishes to announce that further to the Hearing of the Stay Application held today, the Court has made the following Orders;-

a) The Court allowed a stay of execution of the following:-

(i) A declaration that the Second Plaintiff and/or any persons claiming to have derived their rights from the Second Plaintiff who are in occupation of the property without the Second Defendant’s consent are in wrongful occupation of the property;

(ii) An Order that the Second Plaintiff and/or its employees and/or its agents and any persons claiming to have derived their rights from the Second Plaintiff and/or any persons who are in occupation of the property without the Second defendant’s consent, delivers vacant possession of the property to the Second Defendant within twenty-one (21) days from the date of the service of the Order herein;

(iii) An Order that the Second Plaintiff and/or its employees and/or its agents and any person claiming to have derived their rights form the Second Plaintiff and/or any persons who are in occupation of the Property without the second Defendant’s consent, remove their belongings and/or cause the removal of their belongings from the Property within twenty-one (21) days from the date of the service of the Order herein;

(iv)  In the event of a failure to obey, an Order that the Second Defendant be given leave to re-enter the Property in order to lock up the property without prejudice to the Second Defendant’s right to apply for writ of possession.

b) Other than the above, there is no stay granted in respect of the remaining orders in the Judgment dated 29 June 2015;

c) There is no stay of Court Orders in respect of the Security for Cost;

d) The cost of the application will be borne by the unsuccessful party when the matter is finally disposed.

The Manager will make further announcements as necessary on future developments in this matter.

This announcement is dated 12 August 2015.

 






Announcement Info

Company Name AMANAHRAYA REAL ESTATE INVESTMENT TRUST
Stock Name ARREIT
Date Announced 12 Aug 2015
Category General Announcement for PLC
Reference Number GA1-12082015-00079




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