The statutory demand states that if USP fails to pay the outstanding sum within three weeks from Friday, the plaintiff will apply to the High Court for a winding-up order to be made against the company on the ground provided for in the Companies Act.
SINGAPORE (Oct 5): USP Group, whose ability to remain as an ongoing business has been cast into doubt by auditors, said it was served with a statutory demand on Friday by Legal Standard LLP, solicitors acting for a certain Ridwan Kasenda.
The statutory demand is for payment of the sum of $250,273.97 which is alleged to be outstanding as of Friday. This is in relation to a settlement agreement which was entered into on or around June 27 between USP and Ridwan.
