Singapore Paincare Receives Claims Worth Up to SG$450,000

MT Newswires

09/02

Singapore Paincare (SGX:FRQ) received letters of claim from Lim Seow Yuen for services provided between SG$350,000 to SG$450,000, according to a Tuesday filing with the Singapore Exchange.

Based on the letter, Lim provided certain services to the company following alleged promises and assurances made by chief executive officer, Lee Mum Kam Bernard.

Meanwhile, the CEO has undertaken to indemnify the company for the claimed sums.

Lim's lawyers on the other hand, also sent a letter to the company's sponsor, Novus Corporate Finance, asserting claims exceeding SG$1 million against Lee and the company.

The company is of the opinion that Lee's claims have no merit and will continue to evaluate the situation before seeking external legal advice if necessary.

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