THE High Court dismissed Star Media Group Bhd’s (SMG) application to strike out Jaks Resources Bhd and its subsidiary Jaks Island Circle Sdn Bhd’s (JIC) counterclaim against SMG in an ongoing legal dispute.
The row between the two groups is in relation to the balance purchase price of RM134.5 mil for the sale of a piece of land in Section 13, Petaling Jaya, from SMG to Jaks.
The counterclaim against SMG by Jaks and JIC was filed on May 30, 2019 which began with a sale and purchase agreement between JIC and SMG dated Aug 19, 2011.
According to a statement on Sept 28, 2020, Jaks and JIC are seeking damages and costs for prematurely initiating the claim in bad faith and/or maliciously and/or is an abuse of court process for relief amount totalling RM595.27 mil.
Currently, the High Court has fixed a date for case management for parties to update the High Court on the compliance of the pre-trial directions, which is slated on July 21, 2020. – Oct 1, 2020
