OUELH not liable to Crest regarding standby facility as apex court dismisses appeal

SINGAPORE'S Court of Appeal has dismissed an appeal filed by Crest entities in a lawsuit with OUE Lippo Healthcare (OUELH) regarding the appointment of receivers over certain OUELH subsidiaries.

The court also ordered that a standby facility and its related contracts and transactions were void and that OUE Lippo Healthcare owed no contractual liability or obligation to Crest.

The order remains unchanged from a July 2, 2018 order by the Singapore High Court.

"The Court of Appeal is the court of final appeal in Singapore. No further appeal may be made in respect of matters decided on by the Court of Appeal," OUELH said in a regulatory filing on Sunday.

OUELH shares closed 0.1 Singapore cent or 1.7 per cent higher at 6.1 cents on Friday.