IREIT Global Units File Statement of Defense in DRV Litigation

MT Newswires

07/20

IREIT Global's (SGX:UD1U) subsidiaries that hold the Berlin Campus in Germany have submitted a statement of defense to the Regional Court, in response to a statement of claim filed by DRV, a former tenant, according to a Friday filing with the Singapore Exchange.

Shares of the real estate trust were down over 1% in Monday trading.

The manager is now in consultation with its legal counsel, maintaining that DRV's claim is unfounded and there is a good defense against the claims.

The REIT's German subsidiaries have been involved in a dispute with Deutsche Rentenversicherung Bund, with the former seeking partial repayment of an earlier 15.5 million-euro lump-sum dilapidation payment, claiming the costs to be unjustified.

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