PT International Development Corporation Limited (HK:0372) has released an update.
PT International Development Corporation Limited is embroiled in litigation with Mr. Zhu Bin, the former owner of Thousand Vantage, over allegations of deceit and breach of warranties related to a significant equity transaction. The company seeks to rescind a subscription agreement, or alternatively, secure compensation and indemnities. The outcome of this legal dispute will determine whether Thousand Vantage remains a part of PT International’s financial consolidation or is returned to Mr. Zhu.
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