Guangzhou Kangrui Receives Arbitration Award

Reuters
Oct 28
Guangzhou Kangrui Receives Arbitration Award

Pu'er Lancang Ancient Tea Co. Ltd. announced that its wholly-owned subsidiary, Guangzhou Kangrui Lancang Ancient Tea Co., Ltd., has received an arbitration award from the Shenzhen International Court of Arbitration. The company stated that the debts involved in the arbitration were incurred personally by Ms. Wang and Mr. Zhang and are not connected to the company or its subsidiary. Both individuals have provided written undertakings to compensate the company for all economic losses arising from the case and to self-fund the repayment of amounts awarded.

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