Vallianz Holdings Limited (SG:WPC) has released an update.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Vallianz Holdings Limited faces a legal challenge as its subsidiary, Vallianz Offshore Marine, has been hit with a substantial counterclaim of over $8 million from Hilong Marine Engineering. This counterclaim arises from alleged deficiencies in the vessel Vallianz Supreme, which Hilong claims led to operational downtime. Despite previous agreements and extensions, Hilong has failed to settle an outstanding debt with Vallianz, prompting the ongoing legal dispute.
For further insights into SG:WPC stock, check out TipRanks’ Stock Analysis page.