PropNex Subsidiary Named Co-Defendant in Lawsuit

MT Newswires

02/02

PropNex (SGX:OYY) subsidiary, PropNex Realty, was named as one of three co-defendants in a lawsuit filed in the High Court of Singapore, according to a Monday filing with the Singapore Exchange.

According to the lawsuit, claimants are seeking damages against PropNex Realty for alleged breach of duty of care and seeking compensation of around SG$367,405 in damages.

The company is currently in the process of obtaining legal advice and will take steps to defend the suit.

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