Singapore High Court Dismisses Advanced Systems' Injunction Plea in Zico Capital Case

MT Newswires

09/08

Advanced Systems Automation's (SGX:WJ9) petition for an interim injunction against Zico Capital over a disputed advisory fee was rejected by the Singapore High Court, according to a Monday filing to the Singapore stock exchange.

The High Court of the Republic of Singapore has also ordered the company to pay costs of SG$18,000 to Zico Capital.

The company clarified that the dismissal does not dispose of its substantive claim against ZICAP, which remains ongoing.

The lawsuit is in relation to the professional fees claimed by Zico for the company's acquisition of LSO Organization.

Advanced Systems said it is evaluating whether to seek permission to appeal against the High Court's decision to the Appellate Division of the High Court within 14 days.

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