The Ontario Superior Court has ordered the seizure of assets belonging to the Tree of Knowledge International US, a subsidiary of TOKI Canada, which is cross-listed on the Jamaica Stock Exchange.
The order comes in respect of an ongoing dispute between Canada-based research centre Chu de Québec – Université Laval and TOKI’s US subsidiary.
On August 6, 2020, Chu de Québec – Université Laval filed a claim against the Defendants in the Ontario Superior Court alleging, inter alia, breach of contract related to a contract arranged by TOKI’s US subsidiary.
The contract in dispute is with respect to personal protective equipment sold by TOKI US to the Chu De Québec – Université Laval which was arranged by a US-based director and officer of TOKI.
Court freezes Tree of Knowledge s assets for selling faulty masks to Quebec hospitals theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Tree of Knowledge International Corp.: Tree of Knowledge Announces Mareva Injunction in Ongoing PPE Dispute
TOKI or the
Company ) announces that, with respect to the ongoing dispute as between Chu de Québec - Université Laval (the
Plaintiff ), TOKI, TOKI s US subsidiary, Tree of Knowledge, Inc. (
TOKI US ) and certain third parties (collectively, the
Defendants ), the Ontario Superior Court has ordered a Mareva injunction with respect to the assets and operations of the Defendants.
As disclosed in the financial statements of TOKI, on August 6, 2020 a statement of claim was filed by Chu de Québec - Université Laval as against the Defendants in the Ontario Superior Court alleging,
Tree of Knowledge Announces Mareva Injunction in Ongoing PPE Dispute torontotelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from torontotelegraph.com Daily Mail and Mail on Sunday newspapers.