December 19, Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

December 19, 2018

Company Name: JTRUST ASIA PTE.LTD.
Representative: Nobuyoshi Fujisawa, Managing Director, CEO
Contact: Nobiru Adachi, Director
Telephone: +65-6535-5152

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)”. Please refer to the attachment.

December 19, 2018
J Trust Co., Ltd.
Code: 8508

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

J Trust Co., Ltd. (hereinafter, “the Company”) has continuously disclosed information regarding Group Lease PCL (hereinafter, “GL”) and would like to make a further announcement on subsequent events as follows:


The developments in the British Virgin Islands
JTRUST ASIA PTE. LTD. (hereinafter, “JTA”) obtained a worldwide freezing order against Mr. Mitsuji Konoshita (hereinafter, “Mr. Konoshita”) and A.P.F. Group Co., Ltd. (hereinafter, “APF”) in the Commercial Division of the High Court in the Eastern Caribbean Supreme Court on 24 December 2017 (hereinafter, “the BVI Court”). The BVI Court also ordered the appointment of receivers to APF on 5 July 2018 (hereinafter collectively, “the Decisions”). Mr. Konoshita and APF filed appeals against the Decisions of the BVI Court (hereinafter, “the Appeals”) in the Court of Appeal of the Eastern Caribbean Supreme Court (hereinafter, “the Court of Appeal”); however, the Court of Appeal dismissed those Appeals, respectively on 18 December, 2018.
The developments in Japan
On 18 December, 2018, JTA filed a lawsuit in the Tokyo District Court against Kuga Corporation Co., Ltd. (Head office’s address: 2-2-52, Kita-horie, Nishi-ku, Osaka-city), a shareholder when Cougar Pacific Pte Ltd was founded and Mr. Yoichi Kuga, the representative director of Kuga Corporation Co., Ltd, seeking damages equivalent to approximately 7.5 billion yen as a part of the damages suffered by JTA based on the unlawful act jointly conducted by Mr. Konoshita and GL.

We will make further disclosure as soon as any further development occurs.

-End-

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