Top court dismisses appeal by Crest in lawsuit with OUE Lippo Healthcare

SINGAPORE - Singapore's Court of Appeal has dismissed an appeal filed by entities related to fund manager Crest Capital Asia 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 cent or 1.7 per cent higher at 6.1 cents on Friday.