Category: General News
Posted Jan 31, 2018 10:34 (GMT +7)
Court Rejects JTA Argument in Singapore, Allows GLH to Currently Continue Normal Operations
BANGKOK--(BUSINESS WIRE)-- During this January, J Trust Asia (“JTA”) has launched several lawsuits against Group Lease (“GL”) and our group companies including in Thailand and Singapore. For each of these lawsuits, so far, the court has only heard JTA’s arguments and has only made decisions based only on the information JTA has provided since JTA started the lawsuits and due to court procedures, GL has not yet had a chance to respond. On January 25, 2018, in Singapore, the court for the first time heard both JTA and GL’s arguments together. JTA asked the court to immediately prevent Group Leasing Holdings (“GLH”), our Singapore holding company whose purpose is to manage GL’s investments, from selling assets and transferring capital between our group companies. Buying and selling assets and transferring capital between our group companies is the ordinary business of GLH. After hearing both JTA and GL, the court denied JTA’s request to immediately prevent GLH from performing its ordinary business. While this is a small victory, it is the first time a court has heard both JTA and GL at the same time—and GL won. We look forward to continuing the fight against JTA and hope this is the start of many victories for GL.
Group Lease PCL
Ms. Siriphen Pongchairerks, +66 (0)-2580-7555 Ext. 8107
View this news release online at:
Distribute your news release with us
Our media lists include news desks at all leading Thai and English-language dailies.
Radio & TV
We deliver your news to leading Thai radio stations and TV channels.
All releases are submitted to Internet news sites, including several with guaranteed pickup.
Our Self-Serve News Release Couldn't Be Simpler
Our streamlined online process makes it simple and fast to submit your news to the Thai media. Once registered, just enter or copy your text into our submission form and you'll see an instant preview with our fee based on the word count, translation, and any attached image. To confirm submission, hit Enter to be taken to our payment processor. Once payment is approved, your release passes automatically to our news desk for translation and dissemination by our skilled and experienced team. You'll be kept informed at each step of the process.