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Singapore Court Court Allows Claims Against Far East Orchard's Associate Company to go to Trial

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Far East Orchard (SGX:O10) said the Singapore Court of Appeal on Friday ruled that an equitable rescission claim against its associated company, FEOpus, will proceed to trial, according to a Monday filing to the Singapore stock exchange.

As per the filing, the six remaining claimants are seeking the return of over SG$20.2 million or alternative damages. The company's interest in the damages, if granted, would be 20%, in line with the stake it holds in FEOpus.

In June 2024, FEOpus was served with claims by 13 unit owners regarding the SBF Center commercial development. Subsequently, seven of the claimants withdrew from the case.

"As the claims will proceed to trial and proceedings are still in the early stages, the way the proceedings will develop and the outcome of the proceedings remain uncertain," the company said.

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