Edition's Unit Receives Arbitrary Notice from KG Systems Over Unpaid Invoices
MT Newswires
Jul 17
Edition's (SGX:5HG) subsidiary, Meod, received a notice of arbitration from KG Systems, relating to a contract for the supply of "Moving Gutter System," according to a Thursday filing with the Singapore Exchange.
The Netherlands-based claimant is seeking an outstanding sum of 178,492 euros from several unpaid invoices, along with contractual interest of 2% per month, extrajudicial costs of 7,275 euros and a storage penalty of 31,500 euros.
KG Systems is also seeking reimbursement for legal costs associated with the proceedings.
The Singaporean agriculture company is reviewing the claims and allegations and has engaged legal advisers, the filing said.
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