Century Ginwa Retail Faces Litigation Appeal at Xi'an Court
Reuters
Oct 22
Century Ginwa Retail Faces Litigation Appeal at Xi'an Court
Century Ginwa Retail Holdings Ltd. has announced it is involved in ongoing litigation related to a project managed by one of its subsidiaries. The Project Company has filed a civil appeal with the Xi'an Intermediate People's Court, seeking either a retrial or a change in the previous decision to dismiss all claims made by the Purchaser. The Project Company is also requesting that the Purchaser bear the litigation costs for both the first and second trials. Century Ginwa Retail Holdings stated that the case is not expected to have a significant adverse impact on the Group's ongoing operations or financial position. The company plans to use any liquidated damages as additional working capital and to support the continued development of the project. Shareholders and potential investors are advised to exercise caution when dealing in the company's shares.
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