ADC Files Final Appeal with Supreme Court in Ongoing Lawsuit Against IR Japan Holdings' Subsidiary

MT Newswires Live
02/17

IR Japan Holdings (TYO:6035) said ADC has filed a final appeal with the Supreme Court on Feb. 6, contesting the Tokyo High Court ruling that dismissed their claims against the group's consolidated subsidiary, IR Japan Inc.

The Tokyo High Court had previously dismissed their appeal on Jan. 21, fully accepting the arguments of the subsidiary, according to a Tokyo bourse filing on Tuesday.

However, the plaintiffs, Asia Development Capital and Asia Investment Fund, are seeking to contest the appellate judgement, read the filing.

The plaintiffs have submitted petitions for final appeal, though their statement of reasons is expected to be filed subsequently.

The company's subsidiary maintains that the appellate judgment was appropriate and plans to respond accordingly.

At present, IR Japan Holdings expects no impact on its business performance from this legal action.

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