May 15, 2020 / 3:10 PM / 14 days ago

BRIEF-Sino Prosper (Group) Updates On Civil Ruling Issued To A Unit

May 15 (Reuters) - Sino Prosper (Group) Holdings Ltd :

* ON 21 APRIL GROUP RECEIVED CIVIL RULING ISSUED TO A UNIT

* PLAINTIFF CLAIMS JILIN RUIXIN A TOTAL OF ABOUT RMB52.8 MILLION, INCLUDING PRINCIPAL & ASSOCIATED INTERESTS

* COURT ORDERED ABOUT RMB27.3 MILLION IN TWO PRC BANK ACCOUNTS OF JILIN RUIXIN BE FROZEN FOR ONE YEAR

* NO LOAN AGREEMENT APPROVED BY BOARD AND/OR BY BOARD OF UNIT TO BE ENTERED INTO BETWEEN UNIT & PLAINTIFF

* BOARD, ON 8 MAY 2020, DECIDED TO FORM INDEPENDENT INVESTIGATION COMMITTEE TO INVESTIGATE & HANDLE MATTERS RELATING TO CLAIM

* PLAINTIFF ALLEGED THAT JILIN RUIXIN FAILED TO MAKE REPAYMENTS TO PLAINTIFF PURSUANT TO CERTAIN LOAN AGREEMENTS Source text for Eikon: Further company coverage:

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