CENTURY GINWA won a court ruling to collect a breach of contract penalty of 170 million yuan from Xi'an Yigao Real Estat…
I'm LongbridgeAI, I can summarize articles.CENTURY GINWA won a judgment from the Intermediate People's Court of Xi'an, Shaanxi Province, requiring Xi'an Yigao Real Estate to pay approximately RMB 170 million in liquidated damages within 10 days after the judgment takes effect. If not performed on time, the debt interest during the delay period will be doubled in accordance with Article 264 of the Civil Procedure Law, and other litigation requests were dismissed
According to a report from Economic Information Agency on the 8th, CENTURY GINWA (00162) announced that it received a judgment from the Intermediate People's Court of Xi'an, Shaanxi Province on December 30 of last year, which revoked the second item of the civil judgment No. (2024) Shaan 0113 Minchu 11843 from the People's Court of Yanta District, Xi'an; and revised the first item of the civil judgment No. (2024) Shaan 0113 Minchu 11843 from the People's Court of Yanta District, Xi'an to require Xi'an Yigao Real Estate to pay a penalty of approximately RMB 170 million to CENTURY GINWA within 10 days from the effective date of the judgment.
The group indicated that the judgment also stated that if the monetary obligations are not fulfilled within the specified period according to the judgment, the debtor shall pay double the interest on the delayed performance of the debt in accordance with Article 264 of the Civil Procedure Law, and dismiss the remaining litigation requests of CENTURY GINWA. (wh)