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Advanced Systems Automation Starts Legal Proceedings Against Zico Capital

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Advanced Systems Automation (SGX:WJ9) filed a notice of application and interim injunction in the General Division of the High Court of the Republic of Singapore against Zico Capital over disputed advisory fees, according to a Wednesday filing to the Singapore stock exchange.

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

Earlier, the semiconductor assembly company had received a notice of demand from Zico Capital for a claim for payment of SG$627,709.

The company alleges duty breaches by Zico Capital and is pursuing loss and damage, declaratory orders and related relief while also applying for an interlocutory injunction to preserve the status quo during the case.

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