NVC Lighting (02222.HK), which has been suspended since August 11, 2014, announced that it recently learned that a bank filed a complaint involving NVC China. The complaint required Chongqing Enwei West to repay the bank's RMB 35.479 million in interest due to a so-called financing contract. As of the end of May, En Weixi was the associate of Wu Changjiang, the former chairman of the company, and was a connected person of the company.
The complaint further claimed that eight individuals/entities (including Wu Changjiang, NVC China and other individuals/entities connected or possibly related to Wu Changjiang) as guarantors of the above-mentioned debts owed by En Weixi to the bank should Joint liability; and NVC China allegedly entered into a security agreement with the bank.
The board of directors stated that it had not been aware of the so-called contract and the so-called guarantee agreement, and did not know that NVC China allegedly involved the grant of the so-called contract. The company is now taking steps to obtain more details of the complaint and is seeking legal advice on the impact of the above complaint.
The complaint further claimed that eight individuals/entities (including Wu Changjiang, NVC China and other individuals/entities connected or possibly related to Wu Changjiang) as guarantors of the above-mentioned debts owed by En Weixi to the bank should Joint liability; and NVC China allegedly entered into a security agreement with the bank.
The board of directors stated that it had not been aware of the so-called contract and the so-called guarantee agreement, and did not know that NVC China allegedly involved the grant of the so-called contract. The company is now taking steps to obtain more details of the complaint and is seeking legal advice on the impact of the above complaint.
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