Decision and Details
First-instance judgment in the action brought by J Trust Asia Pte. Ltd. against Group Lease PCL seeking repayment
JTA sought the return of the investment principal and interest from GL. The original claim sought damages for falsification of financial statements, but was changed to seek recovery of the investment principal and interest.
The judgment resulted in a payment obligation for GL. The impact on the results of Wedge Holdings CO.,LTD. has not been disclosed.
| Item | Details |
|---|---|
| Matter Covered | First-instance judgment in the action brought by J Trust Asia Pte. Ltd. against Group Lease PCL seeking repayment |
| Decision Date | 10 August 2026 (date of judgment) |
| Period Covered | Interest from 1 August 2021 or 1 February 2018 until paid in full (expected) |
| Amount | Total principal investment and interest of THB 5,522,400,000 (approximately ¥26.4 billion), comprising principal of THB 4,602,000,000 (approximately ¥22.0 billion), delayed interest payment of THB 920,400,000 (approximately ¥4.4 billion), attorneys' fees of THB 1,000,000 (¥5 million), and court costs of THB 1,000,000 (¥5 million) |
| Quantity / scale | Total GL convertible bonds of US$210 million; JTA's investment of more than US$180 million |
| Impact on Business Performance | The judgment resulted in a payment obligation for GL. The impact on the results of Wedge Holdings CO.,LTD. has not been disclosed. |
| Reason | JTA sought the return of the investment principal and interest from GL. The original claim sought damages for falsification of financial statements, but was changed to seek recovery of the investment principal and interest. |
| Related previous disclosures | “Group Lease PCL's views on the news release from J Trust Co., Ltd. dated 18 January 2018,” dated 18 January 2018 |
| Future plans | GL plans to continue its appeal in the appellate court. GL will consult with external experts and work to recover the damage incurred in connection with this litigation. If any matters requiring further disclosure become known, they will be promptly announced. |
Items this document does not state (3)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.JTA sought the return of the investment principal and interest on GL convertible bonds held by JTA. The original claim sought damages on the grounds that the GL Group had falsified its financial statements and caused JTA to mistakenly believe that GL was in sound financial condition. The claim was subsequently changed to seek recovery of the investment principal and interest.