Beijing Gas Blue Sky Wins Court Ruling as Debt Assignment in Benxi Deal Ruled Invalid

Beijing Gas Blue Sky Holdings Ltd ( (HK:6828) ) has shared an announcement.

Beijing Gas Blue Sky Holdings Limited has announced a favourable court judgment in a long-running dispute tied to the acquisition of a 10% equity interest in Benxi Liaoyou, where Dalian PetroChina Xiuhe Energy had sought to recover an outstanding consideration from the company and its affiliates via an assigned debt claim. The Court ruled that the debt assignment agreement between the claimant and the original seller, Liaohe Longyi, was invalid, leading to the dismissal of all claims against Beijing Gas Blue Sky, Shenzhen Xinliao and Guizhou Shunyao, and ordering the claimant to bear the case acceptance and preservation fees, though the parties retain a limited window to appeal. The ruling removes a legal overhang related to the transaction and alleviates potential financial and reputational pressures on the company, although any appeal could prolong the matter.

The most recent analyst rating on (HK:6828) stock is a Hold with a HK$0.04 price target. To see the full list of analyst forecasts on Beijing Gas Blue Sky Holdings Ltd stock, see the HK:6828 Stock Forecast page.

More about Beijing Gas Blue Sky Holdings Ltd

Beijing Gas Blue Sky Holdings Limited is a Bermuda-incorporated company listed in Hong Kong that operates in the energy sector, focusing on natural gas and related clean energy infrastructure and services within mainland China. The group typically participates in gas distribution, investment in energy projects and associated technical and operational services across various regional markets.

Average Trading Volume: 12,623,749

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$750.3M

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