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    Mermaid Marine Australia makes claim against Jaya

    Company News // December 3, 2014

    Local news sources report that Jaya Holdings has received a claim for S$15.6 million from Mermaid Marine Australia, which bought all of Jaya's subsidiaries and businesses for S$625 million in June.

    The Business Times newspaper said the claim involves an alleged breach of warranties under the sale and purchase agreement.

    In a statement, Jaya said: "The company is in the process of seeking further information from the purchaser on the allegations set out in the claim notice to enable the company, in consultation with its advisers, to assess the impact and merits of the purchaser's claim and to consider and take all appropriate steps to respond to the claim notice."

     

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