BRIEF-KGIC reviews Uhak.com transaction and issues statement of claim

Fri Jul 15, 2016 9:29am EDT
 
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July 15 (Reuters) - KGIC Inc

* KGIC reviews Uhak.com transaction and issues statement of claim

* KGIC says press release issued on Oct 29, 2015 pronouncing sale of agency may have been premature to extent that transaction has not been consummated

* Says special committee was established by KGIC board to review this purported transaction

* Says commenced an action against Uhak.com (Korea) for non-payment of accounts owing for student tuition

* Says claim is to recover accounts receivable and damages for defamation

* Says claim was filed and issued by Ontario Superior Court of Justice on July 4th 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)