China Vanadium Titano-Magnetite Mining Co., Ltd. (HK:0893) has released an update.
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China Vanadium Titano-Magnetite Mining Co., Ltd. has announced an update on litigation involving its former subsidiary, Huili Caitong, after preliminary judgments required the subsidiary to repay significant loan amounts. The company, under its corporate guarantee obligations, is faced with potential financial repercussions and has issued legal demands to ensure Huili Caitong and associated parties fulfill their repayment and indemnity obligations. Legal assurances have been received from Chengyu Vanadium Titano, the parent company of Huili Caitong, to honor their commitments under the Master Guarantee Agreement.
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