Loob Holding Sdn Bhd of Tealive and La Kaffa International Co Ltd of Taiwan of Chatime have reached an out-of-court settlement to resolve their dispute. The initial dispute arose from Loob Holdings’ former management of the Chatime franchise and subsequent setting up of competing franchise Tealive.
In a joint statement issued to the media, both parties have reached an out-of-court settlement to amicably resolve all their disputes. Both parties have agreed to withdraw all ongoing legal proceedings in Malaysia and arbitration in Singapore.
The parties, through the statement, further stated, “This settlement shall not constitute nor be deemed or treated by any party as an admission of any allegation and/or liability,” however the specific terms of the settlement are undisclosed.