A spokesperson of the Japanese beer giant Kirin said it would ask a Yangon court to dismiss a petition by Myanma Economic Holdings Limited (MEHL), a military-owned conglomerate, to dissolve a joint venture agreement between the two companies.
MEHL filed the request to dissolve the venture last week, just days after Kirin announced it would take “legal action” to end the partnership.
“If the petition is approved, [MEHL] will be able to take control of the liquidation process,” Kirin’s spokesperson said on Wednesday.
According to MEHL’s lawyer San Tin, a hearing for the liquidation of Myanmar Brewery Limited, the main company under the joint venture, is scheduled for December 10 at the Western District Court in Yangon.
“We will request dismissal of the petition because of doubts about the fairness and appropriateness of the liquidation process as well as violation of the joint venture agreement… and violation of Myanmar laws and regulations,” Kirin’s spokesperson added.
Earlier this month, a Kirin official said the company was preparing to take “legal action” and considering all possible measures to dissolve its partnership with MEHL by the end of this year.
Editors Note: Story “MYANMAR-BEER-PARTNERSHIP” corrected on 04.04.2022 22:34
© Fourth Estate
® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.