Sunrise Shares Faces Legal Claims from Creditors

MT Newswires09-05

Sunrise Shares (SGX:581), a Singapore-based investment company, has received legal notices related to outstanding payments, according to a Wednesday filing on the Singapore Exchange.

The company received letters of demand from Bird & Bird ATMD LLP and Nine Yards Chambers LLC on Aug. 22 and Aug. 28 respectively, representing Xandar Capital and BBSG.

These letters demanded repayment of SG$117,238 and SG$41,473.

On Sept. 4, the company also received an originating claim and statement of claim from Nine Yards Chambers LLC, seeking the BBSG outstanding Sum plus accrued interest.

Sunrise Shares stated that the claims have been accounted for in its interim financial results for the six months ended June 30, and do not materially impact its financial position. The board plans to negotiate a repayment plan with the creditors.

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