Oue Lippo Unit Pays Penalty to Wuxi Hongshen Pharmacy in Creditor Subrogation Claim Proceedings
Oue Lippo Unit Pays Penalty to Wuxi Hongshen Pharmacy in Creditor Subrogation Claim ProceedingsOUE力宝单位在债权人代位求偿程序中向无锡鸿深药业支付违约金
MT Newswires · 2022/09/05 14:20
02:18 AM EDT, 09/05/2022 (MT Newswires) -- Oue Lippo Healthcare (SGX:5WA) said its unit Wuxi Yilin Real Estate Development has paid a sum of 1.5 million yuan ($216,288) plus interest and costs to Wuxi Hongshen Pharmacy related to a creditor subrogation claim.
Wuxi Yilin Real Estate was ordered by a Chinese court in December last year to pay the said amount. The company filed an appeal with the court against the penalty, but the appeal was subsequently dismissed by the court in June this year, according to a Friday bourse disclosure.
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