A company owned by troubled businessman Kazuo Wada and his brothers allegedly failed to transfer its rights to a $100 million loan to a third party after the party lent it $90 million. The party - Hong Kong-incorporated Karex Investments - filed a writ on Wednesday alleging the defendant, Yaohan International, breached an oral agreement in December. Karex claimed that on December 11 it had granted Yaohan a $90 million facility before reaching the oral agreement. In September, Mr Wada's retailing empire in Japan collapsed. The facility was to be exchanged for Yaohan's rights to a $100 million loan owed by listed Yaohan International Holdings (YIH). Yaohan holds about 19 per cent of YIH. A deed for Yaohan to transfer its rights to Karex was drafted after Karex advanced Yaohan the money. But Karex alleges that Yaohan failed to sign the deed last month.