Huabao International Holdings (HK:0336) has released an update.
Huabao International Holdings Limited has announced the outcome of an arbitration case involving its subsidiary, Huabao Flavours & Fragrances Co., Ltd., concerning a share transfer agreement dispute. The arbitration tribunal ruled against the subsidiary’s claims for liquidated damages and compensation for expected benefits, leaving it with the option to pursue separate breach claims under the Civil Code of China. The tribunal did, however, order the respondents to cover part of the legal and arbitration costs.
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