Brief: Huarong International Financial Updates On Legal Proceedings Commenced By Taiping Trustees Against Co As Well As Its Units

XinKong International Capital Holdings

19/01/2023 14:39

Jan 19 (Reuters) - Huarong International Financial
Holdings Ltd  0993.HK :
    * UPDATES ON LEGAL PROCEEDINGS COMMENCED BY TAIPING TRUSTEES
AGAINST CO AS WELL AS ITS SUBSIDIARIES
    * CO RECENTLY BECOME AWARE FROM PUBLIC SEARCHES THAT TAIPING
TRUSTEES COMMENCED LEGAL PROCEEDINGS IN COURTS ON 22 DEC
    * TAIPING TRUSTEES SEEKS PAYMENT OF UNQUANTIFIED SUMS WHICH
IT
ALLEGES ARE DUE AND UNPAID UNDER LPA
    * TAIPING TRUSTEES ALLEGES, AGAINST HUARONG AM & CO
RESPECTIVELY,
BREACHES OF DEED OF UNDERTAKING & OF COMFORT LETTER
    * CO, HUARONG AM AND VALLEY STONE WILL TAKE ALL LEGAL
MEASURES TO
DEFEND AFOREMENTIONED CLAIMS
    * BOARD OF DIRECTORS CONSIDERS THAT CLAIMS WILL HAVE NO
MATERIAL
IMPACT ON GROUP'S NORMAL BUSINESS AND OPERATION

Further company coverage:  0993.HK 
 ((Reuters.Briefs@thomsonreuters.com;))