The manager of ARA LOGOS Logistics Trust (ALOG) has received a writ of summons for a claim pertaining to TheSeafoodCompany arising from an incident that took place in September 2021.
TheSeafoodCompany (TSC) is a tenant of one of ALOG’s properties at 2 Fishery Port Road.
The amount in dispute is around $8 million including interest and costs.
The incident was said to have resulted in damages to certain parts in the premises previously taken up by TSC.
ALOG says, in its statement on April 4, that it has begun discussions with its insurers and its legal counsel over the claim.
The claim is not expected to have a material impact on the REIT’s earnings.
See also: Changes in ICR, leverage to come into effect immediately, with additional disclosures in March
Units in ALOG closed at 84.5 cents on April 1.
