SINGAPORE – Insolvency proceedings brought against beauty and wellness group Mary Chia Holdings and three other parties have been dismissed, although a legal dispute over two loans totalling $350,000 remains unresolved.
The Catalist-listed company announced on Oct 14 that the court had confirmed the dismissal of proceedings brought by Fullink Capital on Oct 13, following compliance with court directions issued on Sept 30.
As part of these directions, Mary Chia transferred $651,498.97 to the court’s account on Oct 6. The amount had previously been placed with the company’s solicitors as security.
It also paid $13,900 in court-ordered costs to Fullink’s solicitors on Oct 9, with receipt confirmed on Oct 12.
The proceedings involved…