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Group Lease Public Company Limited Files Lawsuit Due to Business Rehabilitation Case

24 Apr 2018

Group Lease Public Company Limited (the “Company”) would like to update the public that on 11 April 2018, the Company filed a case against (1) J Trust Asia Pte. Ltd. (2) Mr. Nobuyoshi Fujisawa, Director of J Trust Asia Pte. Ltd. (3) Mr. Shigeyoshi Asano, Director of J Trust Asia Pte. Ltd., and (4) the legal advisor who provides legal advice for J Trust Asia Pte. Ltd. regarding the business rehabilitation of the Company, 4 persons in total. The criminal case was submitted to the Central Bankruptcy Court on the grounds that these 4 jointly submitted a petition for business rehabilitation against the Company, which was false in essence and falsely claimed that the Company falls under the requirements for business rehabilitation. This caused the Company to incur reputational damage and lose credibility amongst investors, which negatively affected the value of the shares of the Company. Thus, the Central Bankruptcy Court accepted our complaint and scheduled the date of trial to be on 25 June 2018 at 9.00 a.m.