Esprit Holdings Faces Legal Action Over Pre-Bankruptcy Asset Transfers
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Esprit Holdings Limited is facing legal action from the bankruptcy trustee of its former subsidiary, Esprit Europe B.V., which filed for insolvency. The trustee alleges that Esprit Europe transferred shares valued at EUR56.48 million for only EUR10.2 million to Million Success Resources Limited before its bankruptcy. Additionally, intra-group claims and debts totaling approximately EUR39.5 million were transferred to Esprit Holdings. The company disputes the claims, citing Hong Kong law, and is preparing to take legal action to protect its interests. The financial impact of the proceedings is currently uncertain.
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