EC World REIT faces RMB3.515 billion judgment over disputed guarantee

SGX Filings

05/09

EC World Real Estate Investment Trust said on May, 09 2026 that Hangzhou Fenhua Investment LLP has secured a May, 06 2026 judgment from the Hangzhou Intermediate Court holding the trust’s subsidiary, Hangzhou Beigang Logistics, jointly liable for RMB3.515 billion under guarantees dated Dec, 31 2021.

The guarantees back the obligations of EC World REIT’s sponsor, Forchn Holdings Group, to Hangzhou Fenhua under an equity-repurchase agreement. EC World REIT’s manager stated it never authorised Beigang to issue the guarantees and has instructed PRC counsel to investigate how the company seal was affixed without approval.

The manager is considering an appeal and warned that, without one, Hangzhou Fenhua could seek court enforcement against Beigang for all or part of the RMB3.515 billion. The board is also reviewing why the litigation, first detected in late April, was only announced on May, 09 2026.

Further updates will be released when available, and unitholders were advised to exercise caution when trading EC World REIT units.

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EC World REIT’s manager stated it never authorised Beigang to issue the guarantees and has instructed PRC counsel to investigate how the company seal was affixed without approval.</p>\n<p>The manager is considering an appeal and warned that, without one, Hangzhou Fenhua could seek court enforcement against Beigang for all or part of the RMB3.515 billion. The board is also reviewing why the litigation, first detected in late April, was only announced on May, 09 2026.</p>\n<p>Further updates will be released when available, and unitholders were advised to exercise caution when trading EC World REIT units.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BWCU.SI","symbol_name":"运通网城","start_time":0,"source_url":"","article_id":"1123155227","we_media_id":"1083912268","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1123155227","pubTimestamp":1778292551,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"SGX Filings","introduction":"Fastest News on SGX Filings ","home_visible":1,"id":"1083912268","head_image":"https://community-static.tradeup.com/news/57d1beae95c40ebe9f2698a436562e39"},"summary":"EC World Real Estate Investment Trust said on May, 09 2026 that Hangzhou Fenhua Investment LLP has secured a May, 06 2026 judgment from the Hangzhou Intermediate Court holding the trust’s subsidiary,...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BWCU.SI":"运通网城"},"translate_title":"EC World REIT因担保纠纷面临35.15亿元判决","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BWCU.SI":1},"content_text":"EC World Real Estate Investment Trust said on May, 09 2026 that Hangzhou Fenhua Investment LLP has secured a May, 06 2026 judgment from the Hangzhou Intermediate Court holding the trust’s subsidiary, Hangzhou Beigang Logistics, jointly liable for RMB3.515 billion under guarantees dated Dec, 31 2021.\nThe guarantees back the obligations of EC World REIT’s sponsor, Forchn Holdings Group, to Hangzhou Fenhua under an equity-repurchase agreement. EC World REIT’s manager stated it never authorised Beigang to issue the guarantees and has instructed PRC counsel to investigate how the company seal was affixed without approval.\nThe manager is considering an appeal and warned that, without one, Hangzhou Fenhua could seek court enforcement against Beigang for all or part of the RMB3.515 billion. The board is also reviewing why the litigation, first detected in late April, was only announced on May, 09 2026.\nFurther updates will be released when available, and unitholders were advised to exercise caution when trading EC World REIT units.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"SGX","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}