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Teho seeks S$6m in damages from 2 vendors

Tuesday, April 4, 2017 - 19:45

CATALIST-LISTED oil and gas-related company Teho International on Tuesday said it has filed a separate writ of summons against two vendors of shares in the company's wholly owned subsidiary, TIEC Holdings, to seek about S$6 million in damages and costs.

Teho is claiming against the two vendors over a breach of duties towards TIEC, whilst they were directors of TIEC.

It had earlier in January issued a writ of summons, claiming that these two vendors did not comply with certain contractual obligations under a sale and purchase agreement dated March 20, 2014.

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