SINGAPORE – Mary Chia Holdings has paid over $300,000 owed to Fullink Capital, but insolvency proceedings brought against it by the lender remain ongoing.
The Catalist-listed beauty and wellness group said in July 21 exchange filings that it had settled $343,829 in undisputed debts owed to Fullink, and also paid $14,000 in costs ordered by the High Court, on its lawyers’ advice.
The payments were made after a July 17 hearing, where the court noted that Mary Chia had admitted in an earlier application that the sum was payable but had yet to settle it.
A dispute between the two companies arose after Fullink issued a statutory demand dated March 17 seeking $902,640 from Mary Chia.
Mary Chia, its wholly owned subsidiary Organica…