Tialoc had not withdrawn the suit when Aspen filed its counterclaim with the High Court of Malaya in Penang, Malaysia. Aspen is seeking a declaration that the suit by Tialoc is a “collateral abuse of court process”, an order that Tialoc pay the company the sum of RM41.4 million for losses caused by the suit filed by Tialoc, as well as general damages to be assessed.
Aspen is also seeking aggravated and exemplary damages to be assessed and the repayment of legal costs it has incurred in defending the suit filed by Tialoc.
The company will make further announcements when there are updates to the proceedings.
Shares in Aspen closed 0.1 cents up or 5% higher at 2.1 cents on Dec 27.
