Nov 11 (Reuters) - Memphasys Ltd (MEM)
- update on litigation against Prime and receipt of statuatory demand for debt repayment from Prime
- Has received statutory demand for repayment of third party debt that prime has paid as guarantor of that debt
- prime as part of its strategy, has served on memphasys a statutory demand for payment of $4.9mln
- remains confident that value of its b class shares in prime will exceed payout