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Tai United Holdings Faces Legal and Financial Challenges Amid Court Orders

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Tai United Holdings Faces Legal and Financial Challenges Amid Court Orders

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Tai United Holdings ( (HK:0718) ) has issued an update.

Tai United Holdings Limited has announced an update on a litigation claim involving its subsidiary, Jinzhou Jiachi. The Intermediate People’s Court of Jinzhou Municipality has issued an enforcement notice and a disclosure order requiring Jinzhou Jiachi and other defendants to pay approximately RMB1.7 billion to the Claimant Bank. Additionally, the court has withdrawn and transferred approximately RMB52.5 million from the onshore deposits of Jinzhou Jiachi and Guangzhou Rongzhi to court-maintained accounts. The company is working to notify the court of a transfer of liabilities to a new transferee, which could impact the execution of the judgment.

More about Tai United Holdings

Average Trading Volume: 2,175,254

Technical Sentiment Signal: Buy

Current Market Cap: HK$189M

See more insights into 0718 stock on TipRanks’ Stock Analysis page.

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