BEIJING START ORDERED TO PAY OFF CNY60MN
AsiaInfo Services, January, 2007
AsiaInfo Services 01-01-2007 Beijing Start Ordered to Pay off CNY60mn BIEJING, Jul 01, 2007 (SinoCast via COMTEX) -- Beijing Start Science and Technology Development Co.,Ltd. (Beijing Start), a subsidiary of Start Group, was ordered to pay off CNY 60 million of principal and interest by Beijing First Intermediate People's Court, announced Start Group on June 28.Start group is one of the famous computer groups in China.
Its subsidiary, Beijing Start did not pay back its one-year loan to China Construction Bank (CCB) Haidian Branch in Beijing when the loan was due.Hence CCB Hiadian Branch filed a suit against Beijing Start and its three guarantor companies and asked to temporarily freeze these four companies' bank accounts and related assets.The court ordered Beijing...
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