Mary Chia Holdings has moved to settle the principal portion of its debt with Fullink Capital, paying $343,829 to the creditor.
Despite this partial resolution, the company continues to contest an additional $558,811 in claimed interest and fees, meaning the broader insolvency proceedings initiated by Fullink remain active in court.
The payment represents a tactical step in the ongoing dispute, but it does not conclude the legal battle.
By settling the principal while disputing the accrued costs, Mary Chia Holdings is attempting to limit its total liability while Fullink Capital pushes for full recovery of the claimed amounts.
The court proceedings will now focus on determining the validity of the disputed interest and fee components.
This development follows a period of financial strain for the company, which had previously faced scrutiny over its governance and debt management.