Oceanus Group was served a Writ of Summons by the High Court of the Republic of Singapore on June 30. The plaintiff is Ocean King Group.
Ocean King is claiming, among other things, breach of an amended and restated loan agreement dated July 30, 2015 between itself and Oceanus Group.
Ocean King is is seeking, among other things, the sum of $9.94 million.
In response, Oceanus Group is seeking legal advice and will make further appropriate announcements to keep shareholders informed of material developments in relation to this matter.
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