Former in-house lawyer launches court action in US claiming 3pc stake in ECCA
The provisional liquidators of Moulin Global Eyecare Holdings are seeking to wind up the company amid an acrimonious legal dispute with a former in-house lawyer of the eyewear firm.
'Most likely, Moulin will be wound up [next month],' Roderick Sutton, an executive director of restructuring firm Ferrier Hodgson, said yesterday.
Mr Sutton and another Ferrier Hodgson executive director, Desmond Chiong Chung Seng, were appointed by the High Court as Moulin's provisional liquidators a year ago following a request from HSBC, which is leading more than 20 banks in claiming over $2 billion from the company.
Meanwhile, a former in-house lawyer of Moulin, Anthony DiChiara, is suing the company, subsidiary ECCA Holdings and the provisional liquidators in a United States district court, claiming he was legally entitled to 3 per cent of ECCA.
The provisional liquidators estimated the stake would be worth US$8.7 million.
In an email, Mr DiChiara, who now lives in the US, said he led and structured the acquisition of the US optical retailer in March last year.
