UEMS

1.030

-0.05 (-4.6%)

MATERIAL LITIGATION UEM SUNRISE BERHAD ("UEM SUNRISE" OR THE "COMPANY") AMENDED NOTICE OF CIVIL CLAIM IN THE SUPREME COURT OF BRITISH COLUMBIA BY THE OWNERS, STRATA PLAN EPS3016 ("PLAINTIFF") AGAINST:- (1) TRAVELERS INSURANCE COMPANY OF CANADA LA COMPAGNIE D'ASSURANCE TRAVELERS DU CANADA; (2) CANADA SUNRISE DEVELOPMENT CORP.; (3) W.T. LEUNG ARCHITECTS INC.; (4) JOHN DOE GENERAL CONTRACTOR; (5) MATSON PECK AND TOPLISS; AND (6) M.P.T. ENGINEERING CO. LTD, (HEREINAFTER REFERRED TO AS THE "CLAIM")

UEM SUNRISE BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
UEM SUNRISE BERHAD ("UEM SUNRISE" OR THE "COMPANY")
AMENDED NOTICE OF CIVIL CLAIM IN THE SUPREME COURT OF BRITISH COLUMBIA BY THE OWNERS, STRATA PLAN EPS3016 ("PLAINTIFF") AGAINST:- 

(1)	TRAVELERS INSURANCE COMPANY OF CANADA LA COMPAGNIE D'ASSURANCE TRAVELERS DU CANADA;
(2)	CANADA SUNRISE DEVELOPMENT CORP.;
(3)	W.T. LEUNG ARCHITECTS INC.;
(4)	JOHN DOE GENERAL CONTRACTOR;
(5)	MATSON PECK AND TOPLISS; AND 
(6)	M.P.T. ENGINEERING CO. LTD,

(HEREINAFTER REFERRED TO AS THE "CLAIM")

UEM Sunrise wishes to announce the following: 

  1. UEM Sunrise received notification that Canada Sunrise Development Corp. (“Canada Sunrise”), was served with the Claim filed by the Plaintiff in relation to Tower D of the mixed residential and commercial use complex located at 7788 Ackroyd Road, Richmond, British Columbia, Canada known as Quintet Tower D (“Quintet D”). 
  2. The Notice of Civil Claim was filed on 1 December 2022 (“Original Claim”). This Original Claim was never served on Canada Sunrise. The Amended Notice of Civil Claim was filed on 14 November 2023. It was served on Canada Sunrise on 23 November 2023.
  3. Canada Sunrise was an indirect wholly owned subsidiary of UEM Sunrise and was dissolved by way of voluntary dissolution under the Business Corporations Act (British Columbia) (the “BCBCA”) on 9 November 2023. Under the BCBCA, despite the dissolution of Canada Sunrise, a legal proceeding may be brought against Canada Sunrise within 2 years after its dissolution as if Canada Sunrise had not been dissolved. 
  4. The Plaintiff is the Strata Corporation representing the owners of the strata lots in Quintet D, and the Plaintiff’s claim alleges, amongst other things, that there are defects in the building of Quintet D, resulting in alleged loss and damage.
  5. The Plaintiff is seeking, among other things, a declaration that Travelers Insurance Company of Canada La Compagnie D’Assurance Travelers Du Canada (“Travelers”), who provided a New Home Warranty (“Warranty”), is obligated to pay and make good the loss and damage suffered by the Plaintiff and the owners in Quintet D, specific performance of the Warranty or in the alternative, general and special damages in lieu of specific performance. 
  6. In respect of Canada Sunrise, the Plaintiff alleges that Canada Sunrise had breached its duties as developer and builder of Quintet D, giving rise to losses and damages to the Plaintiff.  Similarly, the remaining defendants have been sued on the basis that they were allegedly negligent in the provision of services in respect of the design and construction of Quintet D, giving rise to losses and damages to the Plaintiff.
  7. Canada Sunrise is seeking advice from its solicitors to that end and will vigorously defend the Claim. 

Based on the foregoing, we believe at this juncture the Claim has no material financial and operational impact on UEM Sunrise. 

Further announcements will be made as and when there are material developments in the matter. 

This announcement is dated 29 November 2023. 






Announcement Info

Company Name UEM SUNRISE BERHAD
Stock Name UEMS
Date Announced 29 Nov 2023
Category General Announcement for PLC
Reference Number GA1-28112023-00094