Carpenter Tan Loses Final Court Bid Over Disputed Jiangsu Property

An update from Carpenter Tan Holdings Limited ( (HK:0837) ) is now available.

Carpenter Tan Holdings Limited has lost its final ordinary judicial challenge in China over ownership of a commercial property in Jurong, Jiangsu, after the Jiangsu Higher People’s Court rejected its retrial application and confirmed that the asset remains part of the bankrupt developer’s estate. The courts found that legal title to the property was never transferred to the group, that it is not entitled to consumer protection for the commercial purchase, and that its possession arose from a contract with defective rights, allowing the developer’s bankruptcy administrator to terminate the sale and reclaim the asset for equitable distribution to creditors. Although this closes the normal appeal route on the mainland and may result in the group losing a fully paid-for property valued at over RMB33 million, the company maintains the ruling is unjust and is exploring extraordinary remedies, including potential recourse through the procuratorate or a petition to the Supreme People’s Court, with no assurance of acceptance or success.

The most recent analyst rating on (HK:0837) stock is a Buy with a HK$9.50 price target. To see the full list of analyst forecasts on Carpenter Tan Holdings Limited stock, see the HK:0837 Stock Forecast page.

More about Carpenter Tan Holdings Limited

Carpenter Tan Holdings Limited is a Cayman Islands–incorporated company listed in Hong Kong, operating through subsidiaries and holding property, plant and equipment including commercial real estate assets in mainland China such as a property in Jurong, Jiangsu used for its business operations.

Average Trading Volume: 64,950

Technical Sentiment Signal: Buy

Current Market Cap: HK$1.99B

For a thorough assessment of 0837 stock, go to TipRanks’ Stock Analysis page.