SINGAPORE (Jan 30): Beleaguered dining operator Chaswood Resources Holdings has issued an update saying its indirect subsidiary, Bistroamericana (WW) received a judgment from court to pay RM 76,550 (about $25,000) to MCL Land regarding an associated tenancy agreement.
The amount is inclusive of interest and legal costs.
Bistroamericana (WW) is among the various F&B subsidiaries of Chaswood’s Malaysian unit facing a series of litigation claims from landlords seeking to recover outstanding rents owed and interests accrued.
See: Chaswood Resources says Malaysian subsidiaries hit with claims totalling $1.2 mil
Last year in August, the group said MCL was seeking to recover about RM143,000 from Bistroamericana (WW), adding it was unable to meet the payment of this claim amount at the time.
It later filed a Nov 2018 update saying the outstanding amount was RM74,000 after deducting various deposits previously paid by Bistroamericana (WW), offset by the addition of a claim for restoration costs.
The group is currently divesting a number of its food and beverage (F&B) businesses in Malaysia as part of its ongoing debt restructuring efforts.
Trading of shares in Chaswood, which last closed at 0.9 cent, is still suspended.
