Pacific Healthcare Holdings says it and its subsidiary, Pacific Healthcare Nursing Home, have been sued over an alleged $500,000 loan and a payment worth $1.78 million over a terminated sale of two units.
The claim is made by Chan Ewe Teik, a director of Straitsworld Advisory, and Straitsworld Advisory over the recovery of $500,000 in alleged loans.
Chan and his firm also seek to recover $1.78 million as part payment for the proposed and subsequently terminated sale by Pacific Healthcare of all its shares in two units, Pacific Surgical and Endoscopy Centre, and Pacific Healthcare (Indonesia).
In January last year, Pacific Healthcare had entered into two sale agreements with Straitsworld for the proposed sales. In May 2015, the agreements were terminated as certain conditions were not fulfilled or waived by the long-stop date, Pacific Healthcare says.
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The claim is made by Chan Ewe Teik, a director of Straitsworld Advisory, and Straitsworld Advisory over the recovery of $500,000 in alleged loans.
Chan and his firm also seek to recover $1.78 million as part payment for the proposed and subsequently terminated sale by Pacific Healthcare of all its shares in two units, Pacific Surgical and Endoscopy Centre, and Pacific Healthcare (Indonesia).
In January last year, Pacific Healthcare had entered into two sale agreements with Straitsworld for the proposed sales. In May 2015, the agreements were terminated as certain conditions were not fulfilled or waived by the long-stop date, Pacific Healthcare says.
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