ATX Service of Writ of Summons
Filed with ASX · · 2 pages · English
Summary by 6ix AI
Novatti Group Ltd. has announced that it has been served a Writ of Summons in the Kuala Lumpur High Court related to its acquisition of ATX Fintech Holding SB Malaysia. The dispute involves claims from the ATX vendors regarding payment and timing of deferred and earn-out considerations linked to ATX's financial performance post-acquisition. Novatti has made provisions for the majority of the claimed amount in its accounts and is seeking legal advice to dispute the claim. Despite the ongoing legal matter, ATX's financial performance has reportedly improved during the current fiscal year.
Written by 6ix AI from the company’s filing. How 6ix writes summaries
Earlier from Novatti
- Quarterly Activities/Appendix 4C Cash Flow Report
- AUDC raises $5m in its Pre-Series A round
- AUDD passes $1b in transactions on Stellar blockchain
- Strategic investor to underpin growth strategy
- Emersion sale continues business streamlining
Later from Novatti
- Half Yearly Report and Accounts
- Novatti Expands Footprint in Education Sector
- Novatti realises $1.2m from partial sale of stake in AUDC
- June Quarter Results Presentation
- Resignation of Company Secretary
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