A court in Nanjing, China included Gohigh Networks (SHE:000851) and its subsidiary Jiangsu Gohigh Dingheng Information Technology in the list of dishonest persons for unpaid debts, according to a Friday filing with the Shenzhen bourse.
The declaration comes after Jiangsu Gohigh Dingheng Information Technology was ordered to pay back 30 million yuan in principal amount of a working capital loan contract to China Everbright Bank (HKG:6818, SHA:601818) and 30 million yuan in unpaid under a financing credit agreement to Everbright Bank, the filing said.
Gohigh Networks, as the guarantor, will also be obliged to help repay the debts, and could seek compensation from the subsidiary for the payables, the filing said.
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