MATERIAL LITIGATION MARINE & GENERAL BERHAD ("M&G" OR "THE COMPANY") -ADMIRALTY ACTION IN REM BY MAJOROLE SHIPPING SDN BHD AGAINST THE VESSEL SEMUA BAHAGIA (ADMIRALTY IN REM SUIT NO. WA-27NCC-68-11/2016
|MARINE & GENERAL BERHAD|
MARINE & GENERAL BERHAD ("M&G" OR "THE COMPANY") -ADMIRALTY ACTION IN REM BY MAJOROLE SHIPPING SDN BHD AGAINST THE VESSEL SEMUA BAHAGIA (ADMIRALTY IN REM SUIT NO. WA-27NCC-68-11/2016
Further to the announcement dated 19 October 2018 by Marine & General Berhad ("M&G" or "the Company"), the Board of Directors of M&G wishes to announce that its wholly-owned subsidiary, M&G Tankers (L) Pte. Ltd. (“MGTL”), had on 31 May 2019 obtained a judgement in its favour in the Admiralty Action by Majorole Shipping Sdn Bhd ("Majorole Shipping" or “the Plaintiff”) against the vessel Semua Bahagia (now renamed as JM Sutera 5) (“the Vessel”).
On 18 October 2018, the Affidavit in support of MGTL’s application to intervene was submitted to the High Court. Case management was held on 1 November 2018 and subsequently the Court granted MGTL’s application to intervene.
Upon MGTL’s application to intervene being granted, it had on 30 November 2018 filed an application to set aside Majorole Shipping’s claim. Among others the application sought for :
Subsequent to this, several Written Arguments and Written Arguments In Reply were filed interspaced with Hearings on 27 February 2019 and 8 April 2019. The Court subsequently decided in MGTL’s favour when it rendered its judgement on 31 May 2019. MGTL now has until 31 July 2019 to file its claim for an assessment of the damages/losses suffered by it pursuant to the wrongful arrest.
This announcement is dated 3 June 2019.
|Company Name||MARINE & GENERAL BERHAD|
|Date Announced||03 Jun 2019|
|Category||General Announcement for PLC|