Golden Guard Financial News | konta china (01312) announced that the Cayman Islands court made a ruling last Thursday (3rd) on the application filed by its subsidiary Fester Global, which aims to revoke, reject, or postpone the ruling requested in the Cayman Islands in 2024, pending the rulings of the Hong Kong legal proceedings in 2019 and 2021. According to the Cayman ruling, the Cayman court granted interim stay of proceedings for the 2024 Cayman ruling, pending the rulings of the Hong Kong proceedings.

The group pointed out that the 2024 Cayman ruling involves Active Gains Universal Limited as the applicant submitting a winding-up petition against True Cayman to the Grand Court of the Cayman Islands, while True Cayman is a non-wholly owned subsidiary of the group. The group mentioned that the Hong Kong legal proceedings in 2019 and 2021 will be handled by the same judge and, as per the instructions of the presiding judge, will be heard at the same time or shortly thereafter. The proceedings are currently in the stage of evidence disclosure and the hearing date has not been scheduled yet.