ALOG trustee, manager summoned over $8m claim
It stemmed from a September 2021 incident that resulted in the property’s damages.
The trustee and property manager of Ara Logos Logistics Trust (ALOG) received a writ of summons over an $8m worth of claim that stemmed from an incident which resulted in damages to a property formerly occupied by global seafood distributor, TheSeafoodCompany.
In a statement, ARA LOGOS Logistics Trust Management Limited, manager of ALOG, said the incident occurred on 3 September 2021.
A legal counsel has already been advised on the matter whilst insurers were also notified regarding the claim, read the statement.
ALOG’s manager also noted that it does not see this claim to affect ALOG’s earnings.
Conforming to obligations under the Listing Manual of Singapore Exchange Securities Trading Limited, ALOG manager will make relevant announcements. For now, unitholders are advised to exercise caution when dealing with the units.