Mercurius Capital Investment (SGX:) said a Thai court ruled in November 2024 that its dormant joint venture, Grand Bay Hotel, must repay a 200 million baht loan and interest to CS Property or risk seizure of six land parcels for auction.
The Bangkok South Civil Court found Grand Bay Hotel, Apex Development - its 50% joint venture partner - and a guarantor liable after a dispute over promissory notes issued in 2019.
CS Property acquired rights to the loan from Srisawad Power in 2021.
Mercurius said it was informed of the potential land auction only in late February and received an unofficial translation of the judgment in March.
It is assessing the legal implications and warned of a material impact on the group's financial position.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。