China CBM Group Subsidiary Nuoxin Receives Court Order to Transfer Land Over RMB18.8 Million Debt

Reuters
Jan 28
China CBM Group Subsidiary Nuoxin Receives Court Order to Transfer Land Over RMB18.8 Million Debt

Nuoxin (Xian County) Engineering Materials Company Limited, a wholly-owned subsidiary of China CBM Group Co. Ltd., has received an enforcement ruling from the People's Court of Xian County, Hebei Province. The court ordered that industrial land and buildings owned by Nuoxin be delivered to Hebei Xiongyue Qicheng Trading Co., Ltd. to offset an outstanding debt of RMB18.8 million. The assets are valued at RMB25 million, and ownership will transfer after the applicant pays a price difference of RMB6.2 million to Nuoxin via the court.

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