Lendlease Global Commercial REIT (SGX:JYEU), through its trustee DBS Trustee, has issued a statutory demand to Cathay Cineplexes for SG$3.4 million in outstanding rental payments, according to a Wednesday filing with the Singapore Exchange.
The demand relates to Cathay Cineplexes' former cinema premises at Jem shopping mall, which was previously operated by Cathay Cineplexes.
The demand requires Cathay to pay a contractual interest of 1% per month starting from the date the amount has been due until paid in full, according to a Wednesday filing by mm2 Asia (SGX:1B0) with the Singapore Exchange.
Cathay Cineplexes, an associated group of mm2 Asia, is currently seeking legal advice following the statutory demand.
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