Liaoning Port subsidiary faces 1.06bn yuan in lawsuits

Liaoning Port Co announced ongoing lawsuits primarily involving its subsidiary, DCT Logistics. The company is plaintiff in one case seeking 300 million yuan and defendant in eight cases totaling 1.06 billion yuan.

Key cases with China Chengtong International Co and Zhejiang Metals and Materials Co have reached enforcement stages. Cases involving Fujian Rongjiang Imp. & Exp. Co and Qingdao Kaitou International Trading Co have first-instance judgments of 336 million yuan and 319 million yuan respectively, which are undergoing retrial.

The company believes its maximum loss is capped at approximately 180 million yuan.