FINWIRES · TerminalLIVE
FINWIRES

IREIT Global Units File Statement of Defense in DRV Litigation

By

IREIT Global's (SGX:UD1U) subsidiaries that hold the Berlin Campus in Germany have submitted a statement of defense to the Regional Court, in response to a statement of claim filed by DRV, a former tenant, according to a Friday filing with the Singapore Exchange.

Shares of the real estate trust were down over 1% in Monday trading.

The manager is now in consultation with its legal counsel, maintaining that DRV's claim is unfounded and there is a good defense against the claims.

The REIT's German subsidiaries have been involved in a dispute with Deutsche Rentenversicherung Bund, with the former seeking partial repayment of an earlier 15.5 million-euro lump-sum dilapidation payment, claiming the costs to be unjustified.

Related Articles

Asia

Planetree International Forecasts 555% Boost in H1 Profit

Planetree International Development (HKG:0613) expects an attributable profit of HK$600 million for the six months ended June 30, up 555% from HK$108 million a year prior.The financial services company attributed the forecast to a net fair value gain on financial assets, a higher revenue, and an improved contribution from the share of results of associates.

HKG:0613
Asia

Market Chatter: Moonshot AI's New Kimi K3 Model Launch Weighs on US AI, Chip Stocks

Chinese AI startup Moonshot AI launched its Kimi K3 model recently, causing AI and semiconductor stocks to decline in the U.S. on Friday, Bloomberg reported the same day.Moonshot reportedly claims the model is at par with OpenAI and Anthropic PBC's most powerful offerings.The announcement of the launch coincided with President Xi Jinping's attendance of China's top AI summit, underscoring the country's focus on leading the AI sector, Bloomberg said.Kimi K3, a 2.8T-parameter model with a 1-million-token context window, is the world's first open 3T-class model designed for frontier intelligence across long-horizon coding, knowledge work, and reasoning, according to the company.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

China Everbright Environment CEO Steps Down

China Everbright Environment (HKG:0257) Chief Executive Officer Luan Zusheng resigned due to age-related reasons, effective Friday, according to a same-day Hong Kong bourse filing.Chairman Wang Silian has assumed the role of Acting CEO, the environmental services provider said.

HKG:0257