Nov 11 (Reuters) - Memphasys Ltd MEM.AX
* 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 Source text for Eikon: ID:nASX9Y2tcf Further company coverage: MEM.AX