Group 1 - China Coalbed Methane (08270) announced that its wholly-owned subsidiary, Nuo Xin (Xian County) Mechanical Engineering Materials Co., Ltd., received an execution ruling from the Xian County People's Court in Hebei Province, which involves the transfer of an industrial land and buildings to Hebei Xiongyue Qicheng Trading Co., Ltd. to settle a debt of RMB 18.8 million [1] - The land and buildings are valued at RMB 25 million, and the applicant will pay the difference of RMB 6.2 million to the court-designated account before ownership and rights are transferred [1] - The company and the subsidiary are obtaining professional legal advice and will actively protect the group's interests [1][3] Group 2 - The former supervisor of the subsidiary guaranteed a loan contract in 2015, which is believed to involve forgery, leading to a lawsuit by the lender in 2016 [2] - In 2021, the Hebei Provincial High People's Court ordered the subsidiary to pay the lender RMB 4,924,547.95 plus interest, and the subsidiary has applied for a retrial [2] - The chairman of the company, Wang Zhongsheng, has committed to cover any potential losses related to the case, and the board believes the case will not significantly impact the group's financial status or daily operations [2]
中国煤层气附属收到河北省献县人民法院的执行裁定书