Protasco’s Tey and Ooi to file their defence at end of this month

PETALING JAYA: Two embattled directors of Prorasco Bhd have denied any wrongdoing in the company's aborted oil and gas deal and will file their defence in court at the end of this month.
Tey Por Yee, a substantial shareholder of Protasco, and Ooi Kock Aun, the two non-executive directors named in Protasco's lawsuit, have retained law firm Gideon Tan Razali Zaini in their defence. They entered an appearance at the Kuala Lumpur High Court on Wednesday.
"We have carried out our fiduciary and statutory duties to the best of our ability. We resolutely deny all these allegations," Tey and Ooi said in a joint press statement yesterday.
"The allegations are not true and not supported by facts. These will be made apparent when we file our defence at the end of this month, where proof will be furnished to back our defence," they added.
Tey and Ooi also stated that they are not directors of PT Anglo Slavic Utama (PT ASU) as reported recently.
Protasco is taking legal action against Tey, Ooi and PT ASU to recover a RM50 million deposit it paid for a foiled O&G takeover deal after the amended sale and purchase agreement (SPA) signed in January 2014 lapsed on July 28, 2014.
On Sept 24 2014, it announced that the claim against Tey and Ooi is US$27 million in damages, with 5% interest pre and post judgement.