Property News · February 7, 2017

China Vanke files lawsuit to invalidate ownership rights of majority shareholder Baoneng


China Vanke, which has been embroiled in a high-profile corporate power struggle for more than a year, filed a lawsuit to invalidate the shares held by its largest shareholder Baoneng Group.
Vanke alleges that insurance conglomerate Baoneng violated securities laws while it accumulated a 25.4 per cent holding in Vanke because it borrowed funds through shadow banks without proper disclosure.
In a lawsuit filed with the Shenzhen Luohu District People’s Court, the country’s second…

Source : South China Morning Post
Read more…China Vanke files lawsuit to invalidate ownership rights of majority shareholder Baoneng

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