OUE Lippo Healthcare gets High Court nod to continue Crest suit

The disputes stem from 2016, when fund manager Crest Capital appointed receivers over the shares of three subsidiaries of OUE Lippo Healthcare, which was then called International Healthway Corporation, after sending them notices of default.

OUE Lippo Healthcare has said that its legal bid to avoid the sale of a unit will continue after the High Court dismissed an attempt to block the suit.

The healthcare property subsidiary of OUE on Thursday night also announced that the Court of Appeal will hear an appeal from entities related to Crest Capital Asia against a High Court decision that voided certain claims by the Crest entities on OUE Lippo Healthcare.

The hearings will take place between Aug 5 and Aug 23 next year.

OUE Lippo Healthcare said earlier this year that the High Court had declared that a standby facility and its related contracts and transactions were voided and that OUE Lippo Healthcare owed no contractual liability or obligation to Crest.

The disputes stem from 2016, when fund manager Crest Capital Asia appointed receivers over the shares of three subsidiaries of OUE Lippo Healthcare, which was then called International Healthway Corporation (IHC), after sending them notices of default.

Last year, OUE Lippo Healthcare filed a suit against the Crest entities and the receivers, seeking to avoid the receivers' sale of IHC Medical RE to the Crest entities on the basis of bad faith.

The disputes stem from 2016, when fund manager Crest Capital Asia appointed receivers over the shares of three subsidiaries of OUE Lippo Healthcare, which was then called International Healthway Corporation (IHC), after sending them notices of default.

In September this year, the Crest entities applied to the court to strike out OUE Lippo Healthcare's suit. This was dismissed by the court on Monday, allowing OUE Lippo Healthcare to continue its suit.

A version of this article appeared in the print edition of The Straits Times on December 29, 2018, with the headline 'OUE Lippo Healthcare gets High Court nod to continue Crest suit'. Print Edition | Subscribe