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USP Group hit with statutory demand for payment

PC Lee
PC Lee10/6/2019 03:40 PM GMT+08  • 2 min read
USP Group hit with statutory demand for payment
SINGAPORE (Oct 5): USP Group, whose ability to remain as an ongoing business has been cast into doubt by auditors, said it was served with a statutory demand on Friday by Legal Standard LLP, solicitors acting for a certain Ridwan Kasenda.
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SINGAPORE (Oct 5): USP Group, whose ability to remain as an ongoing business has been cast into doubt by auditors, said it was served with a statutory demand on Friday by Legal Standard LLP, solicitors acting for a certain Ridwan Kasenda.

The statutory demand is for payment of the sum of $250,273.97 which is alleged to be outstanding as of Friday. This is in relation to a settlement agreement which was entered into on or around June 27 between USP and Ridwan.

The statutory demand states that if USP fails to pay the outstanding sum within three weeks from Friday, the plaintiff will apply to the High Court for a winding-up order to be made against the company on the ground provided for in the Companies Act.

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