People with knowledge of the matter say the firm is considering seeking a valuation of as much as RM1 billion and targets a listing next year.
Both agree to withdraw all court and arbitral proceedings in Malaysia and Singapore.
Mahkamah Persekutuan membenarkan permohonan Loob Holiding Sdn Bhd menangguhkan perintah Mahkamah Rayuan bertarikh 27 Jun.
The Federal Court ruled that there were special circumstances to allow Loob Holding's application.
Barjoyai Bardai says although the company has to abide by court ruling to stop operations, investors following the saga may understand its defiance due to impact on employees.
Loob Holding failed to get a stay order against a court decision prohibiting its outlets being operated similar to Chatime.
Mahkamah Rayuan berkata pemilik Tealive melanggar kontrak dan kewajiban statutori dan memperluaskan perniagaan dan ini kes salah laku yang disebabkan oleh diri sendiri.
Court of Appeal judge Hamid Sultan Abu Backer says the special circumstances rule relied on by Loob Holding to seek the stay order was not applicable in this case.
It says the decision to allow affected outlets to return and re-operate under Chatime was made due to overwhelming requests.
Tealive operator Loob Holding Sdn Bhd says it has instructed its lawyers to seek leave to appeal over a court decision stopping them from running a business similar to its former franchise owner, La Kaffa International Co Ltd.
This follows the Court of Appeal’s injunction order against the bubble milk tea operator from carrying out a similar business as Chatime.
Chatime Malaysia group MD Aliza Ali says legal letter was issued yesterday to the former Chatime master franchisee.
This means Loob Holdings Sdn Bhd can continue its Tealive business throughout its 161 stores.
Will Group takes over the bubble milk tea franchise from Loob Holding.