Commencement Of Litigation
BackJul 14, 2003
| Type | Announcement |
| Subject | Commencement of litigation |
Contents :
The Board of Directors of Tan Chong Motor Holdings Berhad wishes to announce that the Company and its wholly-owned subsidiary, TC Euro Cars Sdn. Bhd. (TCEC) have been served with a Writ of Summons on 11 July 2003 filed by Inokom Corporation Sdn. Bhd. and Quasar Carriage Sdn. Bhd. as Plaintiffs in Kuala Lumpur High Court Civil Suit No. S 22-822-2003.
The 1st defendant in the suit is Renault S.A. while the Company and TCEC are the 2nd and 3rd defendants respectively.
The main claim made by the Plaintiffs that is relevant to the Company and TCEC is the claim for "General Damages in the sum of RM 150,000,000.00 against all the Defendants for conspiracy to injure" in relation to the Renault Kangoo project as alleged in the Statement of Claim. The Plaintiff also claimed costs and any other relief to be awarded by the High Court.
The Company and TCEC will be appointing solicitors to study the matter and to defend the suit.
Announcement Info
| Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
| Stock Name | TCHONG |
| Date Announced | 14 Jul 2003 |
| Category | General Announcement |
| Reference No | TC-030714-55058 |