On March 10, Orient Group Incorporation(600811) ( Orient Group Incorporation(600811) . SH) disclosed that the holding subsidiary Guokai Dongfang Urban Development Investment Co., Ltd. and Shandong TianShang Real Estate Co., Ltd. reached a settlement – the relevant cooperation agreement with a total transaction price of about 3 billion yuan signed by the two parties in January 2019 will not be fulfilled, and Orient Group Incorporation(600811) refunded the first installment of 1 billion yuan paid by the other party and paid interest, The interest exceeds 400 million yuan. Previously, due to litigation matters, the assets of Orient Group Incorporation(600811) were frozen by more than 5 billion yuan.
On March 11, Orient Group Incorporation(600811) told the daily economic news that the litigation cycle of such cases was long. Previously, the company had been frozen many important assets by the judiciary for up to three years. For the normal operation and development of the company, it is necessary to eliminate the adverse effects as soon as possible. In addition, Guokai Oriental itself has fallen into a loss, and the company hopes to solve the litigation related problems as soon as possible, so as to further promote the disposal of plot assets, realize the return of funds, and help listed companies “throw off their burden” as soon as possible.
