mm2 Asia's (SGX:1B0) associated company, Cathay Cineplexes, received an originating claim and statement of claim from Lendlease Retail Investments 3, according to a filing with the Singapore Exchange on Tuesday.
Shares of the company plunged nearly 17% in recent trading.
The claim is in connection with an outstanding rental payment of around SG$2 million, interest on amounts from outstanding invoices at the contractual rate of 1% per month and associated costs, along with further relief as deemed fit by the High Court of the Republic of Singapore.
The associated company also received a letter of demand from Resorts Concept for payment of license fees, service charges, utilities, interest and related charges of SG$577,236.
The company is now seeking legal advice in relation to both claims and demands.
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