You are here

Former IPCO, Soh Chee Wen served with civil complaint by Washington firm

RENAISSANCE United, formerly known as IPCO International which was one of the penny stock saga-linked counters, has been served with a civil complaint filed in the Pierce County Superior Court in the State Of Washington in the US, it said on Wednesday. 

The complaint was filed against Renaissance and its subsidiary Capri Investments by Renovatio, a Washington limited liability company.

Other defendants named in the complaint are Soh Chee Wen, Asia Plan (a British Virgin Island corporation and former subsidiary of Ipco) and Neptune Capital Group, another British Virgin Island corporation.

Renovatio is claiming for monies owing arising from a breach of payment for services rendered by one G. Patrick Healy, stipend and expense reimbursement claims of Healy, a 20 per cent ownership interest in Brentwood Overseas/Asia Plan allegedly owed to Healy, as well as loans made by Healy for the Falling Water project owned by the group.

Market voices on:

Renovatio is not the direct claimant, but has made the complaint as an "assignee", Renaissance United said.

Renaissance United said it disputes the claims, which it believes are erroneously made and without merit. The company intends to vigorously defend all allegations.