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Court orders Mary Chia and partner to resolve differences over choice of liquidators and costs
MARY Chia Holdings updated that in its court hearing on Friday, the judge directed it and its Japanese partner to attempt to resolve their differences over the choice of liquidators and the costs, and accordingly adjourned the hearing to Aug 3, 2018.
Mary Chia's susidiary, Mary Chia Beauty & Slimming Specialist (MCBSS), and Slim Beauty House Co had set up a joint venture called MSB Beauty in 2015, but Slim Beauty House Co in 2016 initiated arbitration proceedings against MCBSS due to a dispute over the joint venture.
In July 2017, the Singapore International Arbitration Centre had ordered that MSB Beauty be liquidated, and MCBSS was ordered to pay more than S$580,000 in damages and costs.
Last month, Slim Beauty House Co applied for the appointment of Baker Tilly TFW as approved company liquidators, and for the cost of the proceedings be taxed, if not agreed or fixed, and be paid to SBH by MCBSS.