ASA loses bid to block winding-up move over S$643,534.82 statutory demand
Reuters2026/09/07 23:50- ASA lost its bid for an interim injunction to block Zico Capital from filing winding-up proceedings tied to a statutory demand.
- High Court dismissed the application on Sept. 7, 2026, relating to an alleged S$ 643,534.82 claim, including interest.
- Costs of S$ 18,000 awarded to Zico Capital.
- Management weighing an appeal to the Appellate Division within 14 days, while exploring other legal options.
- Board maintained the group remains a going concern, citing liquidity actions such as asset disposals, restructuring, debt stays.
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