News

Material Litigation

BackApr 06, 2011
Date Announced : 06/04/2011  



Type : Announcement
Subject :
MATERIAL LITIGATION

Description :
Advance Synergy Berhad (“Company”)
Legal Proceedings between Advance Synergy Capital Sdn Bhd (“ASCAP”), a wholly owned subsidiary of the Company and ACE INA INTERNATIONAL HOLDINGS LTD (“ACE INA”) with regard to ASCAP’s 49% equity interest in ACE SYNERGY INSURANCE BERHAD


Announcement Details/Table Section:

 

Further to our announcement on 2 March 2011 in respect of the above captioned legal proceedings, we wish to inform the Exchange on the following:-

1. The hearing of ASCAP's motion to the Federal Court for an Order that:-

a. the Order made by the Federal Court on 8 November 2010 dismissing ASCAP’s motion in the Federal Court for Leave to Appeal to the Federal Court against the decision of the Court of Appeal made on 9 July 2010 (dismissing ASCAP’s Appeal against the Order made in the Originating Summons No. D-24NCC-72-2009 on 12 May 2010), be set aside; and

b. in the alternative, Leave be granted to Appeal against the decision of the Court of Appeal given on 9 July 2010 

has been postponed to 8 April 2011.

2. The hearing of ASCAP's appeal against the Order dated 29 November 2010 made in the Originating Summons No. D-24-NCC-332-2010 by the Court of Appeal has been postponed to 19 April 2011.

3. The hearing by the Federal Court of ASCAP’s motion for Leave for Appeal to the Federal Court against the dismissal by the Court of Appeal on 16 February 2011 of ASCAP’s Intervention Appeal arising from the Intervention Order granted to ACE INA in the Judicial Review Proceedings has been postponed to 8 April 2011.

This announcement is dated 6 April 2011.