Brief: First Sponsor Group Says Units Got Unfavourable Judgments From Dongguan No. 2 People's Court On 20 July
21/07/2026 17:23
BRIEF-First Sponsor Group Says Units Got Unfavourable Judgments From Dongguan No. 2 People's Court On 20 July July 21 (Reuters) - First Sponsor Group Ltd FSCA.SI:
ON 20 JULY, UNITS GOT UNFAVOURABLE JUDGMENTS FROM DONGGUAN NO. 2 PEOPLE'S COURT
IN JUDGMENTS, COURT HELD UNITS, OTHERS ENGAGED IN MALICIOUS COLLUSION ABOUT SALE & PURCHASE OF RESIDENTIAL UNITS
COURT DECLARED THAT SALE AND PURCHASE AGREEMENTS IN RESPECT OF RESIDENTIAL UNITS ARE INVALID
COURT HAS NOT PROVIDED ANY SPECIFIC DIRECTIONS ON REVERSAL OF AGGREGATE CONSIDERATION OF APPROXIMATELY RMB292.1 MILLION
UNLIKELY TO RECOVER ANY MEANINGFUL PORTION OF CONSIDERATION AMOUNT FROM PROJECTCO.
CURRENTLY REVIEWING JUDGMENTS & WILL DETERMINE APPROPRIATE COURSE OF ACTION, WHICH MAY INCLUDE FILING APPEAL AGAINST JUDGMENTS
Further company coverage: FSCA.SI
((Reuters.Briefs@thomsonreuters.com;))
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