Sunac China Gets Court Order Over Dispute With Oriental Yuhong
MT Newswires Live
Yesterday
Sunac China Holdings (HKG:1918) has been notified of a Hong Kong court order in a contract dispute involving the company's unit, Sunac Real Estate Group, over alleged dues of 309.4 million yuan owed to Beijing Oriental Yuhong Waterproof Technology, according to a Friday bourse filing.
According to the order, Sunac Chairman Sung Hongbin will jointly bear the guarantee and other guarantee liability with respect to the amount owed by Sunac Real Estate to Oriental Yuhong.
The company said the court order will not affect its operations, and the parties are exploring a settlement.
Shares were down nearly 2% in Monday morning trading.
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