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SINGAPORE : Mainboard-listed luxury resorts operator Banyan Tree on Wednesday said that one of its wholly-owned subsidiaries is seeking legal action in Bahrain.
The unit, Banyan Tree Hotels & Resorts, has filed a petition in Bahrain to wind-up Al Areen Desert Spa and Resorts to recover some S$1.12 million.
Al Areen is the owner of Banyan Tree Bahrain.
It owes the money to the Banyan Tree unit under the Hotel Management Agreement and Settlement Agreement that both sides signed.
Banyan Tree said its unit may be successful in the winding-up proceedings. But it warned that it may not be successful in recovering any money from it. - CNA/ms
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