KUALA LUMPUR: Loob Holding Sdn Bhd of Tealive and La Kaffa International Co Ltd of Taiwan of Chatime have resolved their disputes arising from their one-time franchise relationship of the latter’s bubble tea brand.
In a joint statement issued on Thursday, both parties have reached an out-of-court settlement to amicably resolve all their disputes.
“In a settlement agreement executed yesterday, both parties have agreed to withdraw all proceedings in Malaysian courts and arbitration in Singapore,” they said.
The statement said this settlement should not constitute nor be deemed nor treated by any party as an admission of any allegation and/or liability.
“Parties have come to an agreement in resolution of their disputes, in which the decision has also been made to stop all court or any other enforcement actions against each other,” they said.
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