Brief: China Huajun Says Yingkou Coastal Bank Has Initiated Two Legal Proceedings Against Unit

China Huajun

13/12/2021 14:57

Dec 13 (Reuters) - China Huajun Group Ltd  0377.HK :
    * IT HAS RECENTLY COME TO ATTENTION THAT YINGKOU COASTAL
BANK HAS
INITIATED TWO LEGAL PROCEEDINGS AGAINST UNIT
    * PROCEEDINGS REGARDING CERTAIN BANKING FACILITIES UTILISED
BY
UNIT
    * BELIEVES NO JUDGEMENT HAS BEEN ENTERED IN RESPECT OF LEGAL
PROCEEDINGS
    * YINGKOU COASTAL BANK FILED CLAIM ALLEGING THAT UNIT HAS
NOT DULY
COMPLETED REGISTRATION OF MORTGAGE FOR OFFICE COMPLEX
CONSTRUCTION
    * YINGKOU COASTAL BANK ALLEGED THAT UNIT FAILED TO SETTLE
BANK
LOANS WITH PRINCIPAL OF RMB300 MILLION AND RELATED INTEREST
    * YINGKOU COASTAL BANK REQUESTED UNIT FOR EARLY REPAYMENT OF
LOAN
WITH OUTSTANDING PRINCIPAL OF RMB2,358.8 MILLION AND RELATED
INTEREST
    * ORDER WAS GRANTED BY YINGKOU COURT TO FREEZE AND PRESERVE
DALIAN
OFFICE COMPLEX
    * SEEKING LEGAL ADVICE ON LEGAL PROCEEDINGS AND IN
DISCUSSION WITH
YINGKOU COASTAL BANK ON REPAYMENT PLANS OF CLAIMS
    * SHAREHOLDERS AND POTENTIAL INVESTORS ARE ADVISED TO
EXERCISE
CAUTION WHEN DEALING IN SECURITIES OF CO

Further company coverage:  0377.HK 

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