Brief: Shanghai Zendai Property Says Board Received Enforcement Order Against Three Defendant Subsidiaries

DevGreat

08/03/2022 10:36

March 8 (Reuters) - Shanghai Zendai Property Ltd  0755.HK :
    * BOARD RECEIVED AND HAS BEEN INFORMED OF ENFORCEMENT ORDER
FROM
LANZHOU COURT AGAINST THREE DEFENDANT SUBSIDIARIES
    * GOT SUMMONS FROM COURT, FINANCIAL INSTITUTION REQUESTED
REPAYMENT OF PRINCIPAL AMOUNT AMOUNTING TO ABOUT RMB210 MILLION
    * CO IS CONTINUOUSLY ASSESSING LEGAL, FINANCIAL &
OPERATIONAL
IMPACT OF CLAIM OVER GROUP
    * GROUP MAY NOT BE ABLE TO REPAY OUTSTANDING SUM TO
FINANCIAL
INSTITUTION ACCORDING TO ORDER

Further company coverage:  0755.HK 

 ((Reuters.Briefs@thomsonreuters.com;))