IHH Healthcare to file motion to dismiss US$6.5bil suit by Emqore Envesecure

KUALA LUMPUR: IHH Healthcare Bhd intended to file a motion to dismiss the amended complaint by Emqore Envesecure Private Capital Trust for the suit involving damages in excess of US$6.5 billion (US$1=RM4.19).

IHH Healthcare said it has strong grounds for seeking dismissal of Emqore Envesecure’s claims on three principal grounds, namely lack of personal jurisdiction, forum non-conveniens and failure to state a claim for relief.

"IHH Healthcare intends to defend vigorously against the claims,” it said in a filing with Bursa Malaysia today.

IHH Healthcare said it is not possible to determine the estimated potential liability to the company arising from the suit as the suit involves 28 named defendants and 20 non-party defendants.

"However, as at the date of this announcement, the suit is not expected to have any business, operational or financial impact on IHH Healthcare as IHH Healthcare believes that it has strong grounds for dismissal of the suit,” it said.

On June 16, 2020, Emqore Envesecure filed a suit against IHH Healthcare on allegations relating to the issuance of the shares of Fortis Healthcare Ltd to IHH Healthcare’s subsidiary around 2018.

Emqore Envesecure broadly alleges that it has purportedly suffered losses as the defendants had allegedly conspired to frustrate a proposed share acquisition transaction between Fortis Healthcare and Emqore Envesecure’s supposed predecessors.

IHH Healthcare was served on July 26, 2021 with Emqore Envesecure’s original complaint and Emqore Envesecure’s motion to amend its original complaint pursuant to the United States (US) Racketeer, Influenced and Corrupt Organisations Act against 28 named defendants and 20 non-party defendants.

The motion to amend was pending adjudication until Dec 3, 2021 when Emqore Envesecure’s amended complaint was filed at the US District Court. - Bernama