Lender Defends $27M Collateral Price Tag In Loan Fight

Law360, London (September 15, 2020, 5:43 PM BST) -- A Southeast Asian business defended its $27 million valuation of the subsidiary of an Indian investment company as accurate in a battle over the collateral in a loan default fight, saying it was accurately calculated by an independent company.

Singapore-based Aapico Investment Pte. Ltd. and Aapico Hitech Public Co. Ltd. — a manufacturing company listed in Thailand — said that a High Court suit brought by ABT Investments (India) Private Ltd. is "unmeritorious and vexatious." The Indian firm sued Aapico on Aug. 5 for allegedly undervaluing its subsidiary, Sakthi Global Auto Holdings Ltd., when it took it as collateral following a...

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