Tond Chemical Gets Restriction Order in Finance Leasing Lawsuit

MT Newswires Live

Nov 13

Shanxi Tond Chemical (SHE:002360) said it received a consumption restriction order from a court amid a lawsuit filed by Zhejiang Zhiyin Financial Leasing over a finance leasing contract dispute, according to a Thursday filing with the Shenzhen Stock Exchange.

A People's Court in Hangzhou, Zhejiang Province, issued the order, which bars the company from engaging in non-essential consumption activities.

The case stems from Tond Chemical and its subsidiaries' alleged failure to meet payment obligations under a finance leasing agreement with Zhejiang Zhiyin.

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