Tealive operator Loob Holding Sdn Bhd and Chatime Taiwanese owner La Kaffa International Co Ltd have reached an out-of-court settlement on all disputes arising from the Chatime bubble tea brand.

In a joint press statement, they said the settlement agreement was executed yesterday resulted in both parties agreeing to withdraw all proceedings in Malaysian courts as well as arbitration in Singapore.

“Parties have come to an agreement in resolution of their disputes, in which the decision has also been made to stop all court or any other enforcement actions against each other.

“This settlement shall not constitute nor be deemed nor treated by any party as an admission of any allegation and/or liability,” they said.

Both parties have also agreed that all their other terms shall remain private and confidential.

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