August 15, Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

August 15, 2019

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.

August 15, 2019
J Trust Co., Ltd.
Securities 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 Thailand:
As we previously announced, JTRUST ASIA PTE. LTD. (hereinafter, “JTA”) filed the business reorganization petition against GL. The progress of this case is as follows:
Date Progress
January 10, 2018 JTA filed the business reorganization petition against GL.
March 19, 2018 The Central Bankruptcy Court, without conducting any hearings, dismissed the business reorganization petition.
April 17, 2018 JTA submitted the appeal to the Central Bankruptcy Court because JTA disagrees with the Court's issuance of decision without conducting hearings.
February 26, 2019 The Central Bankruptcy Court read out the judgment of the Court of Appeal for Specialized Case to all parties. The Court of Appeal for Specialized Case ruled that the order of the Central Bankruptcy Court dated March 19, 2018 is overturned due to the reason that the Court shall conduct the hearings on the reorganization petition before rendering any order. As a result, the business reorganization petition was returned to the consideration of the Central Bankruptcy Court.
August 15, 2019 After the hearings, the Central Bankruptcy Court dismissed the business reorganization petition.

JTA will further submit the appeal against the court’s order.
We will make further disclosure as soon as any further development occurs.

-End-

 PDF(450KB)

TOP MESSAGE

We have been going...

ABOUT J TRUST ASIA

J TRUST ASIA's info..