Shanghai Commercial Bank sues Palinda Group and Palinda Wines for HK$101.99 million amid receiver appointment

Reuters
Feb 27
Shanghai Commercial Bank sues Palinda Group and Palinda Wines for HK$101.99 million amid receiver appointment

Palinda Group Holdings Ltd. said Shanghai Commercial Bank Limited has started High Court proceedings in Hong Kong against the company and its wholly owned subsidiary Palinda Wines (H.K.) Limited, seeking HK$101,986,276.07 for an alleged debt. The company said it is seeking legal advice on the claim’s validity and amount and will update the market as the case develops.

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