Lippo China Resources Limited (HK:0156) has released an update.
Lippo China Resources Limited and its subsidiaries, the LCR Group, have settled a legal dispute involving their interests in Skye and CS Mining by agreeing to pay $49.5 million to the counterparties. While maintaining they have no liability, the settlement avoids further litigation risks and costs, and is considered by Lippo and LCR’s boards to be in the best interest of the LCR Group. The payment is not expected to materially impact the ordinary operations of LCR or Lippo.
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