OUE Lippo Healthcare expands arbitration proceedings over individual investor

OUE Lippo Healthcare on Thursday said that it would expand its claims against an individual David Lin in arbitration proceedings in Singapore.

The company will be seeking further claims against Mr Lin for his alleged breaches under the share purchase agreement tying to his warranties over the financial statements of Health Kind International (Shanghai) Limited and the relevant ownership of Wuxi New District Phoenix Hospital Co Ltd.

The company had in November started arbitration proceedings against Mr Lin.

The Shanghai courts had ruled in favour of Weixin Hospital Investment Management (Shanghai) Co, a company controlled by Mr Lin, against OUE Lippo Healthcare's subsidiaries over a share transfer agreement between a unit of OUE Lippo Healthcare and Weixin, OUE Lippo Healthcare said in December.

OUE Lippo Healthcare had said that it is appealing the decision.