Nam Tai Property (NTPIF) has released an update.
Nam Tai Property Inc. has reported successful enforcement of an arbitration award against Greater Sail Ltd. (GSL), a subsidiary of Kaisa Group Holdings Limited. Following a series of legal proceedings, both the Hong Kong High Court and the British Virgin Islands Commercial Court have denied GSL’s requests to stay the enforcement of the roughly $13 million award. The British Virgin Islands Court has now granted Nam Tai immediate leave to enforce the award.
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