Nam Tai Property Inc. (NTPIF) has released an update.
Nam Tai Property Inc. has been involved in ongoing litigation related to a voided securities purchase agreement from October 2020, with arbitration proceedings in Hong Kong. The company succeeded in dismissing a $146.9 million reimbursement claim and won a counterclaim for approximately $13 million in damages. Appeals and further hearings regarding these awards are currently in process with decisions expected no earlier than July 2024.
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