Examples of Grand China in a sentence
The litigation between Titan Fujian and Grand China Logistics was resolved on 23 December 2013.
On 10 June 2013, the Company received a notification dated 7 June 2013 from Grand China Logistics informing the Company that it had entered into an assignment with GZE pursuant to which it would assign all of its interests, rights and obligations in respect of the Shipyard Sale and Purchase Agreement to GZE.
In December 2013, the Shanghai Intermediate Court approved the withdrawal of the legal proceedings brought by Grand China Logistics and ordered the discontinuation of the counterclaim proceedings brought by TPFL.
Reasons for and benefits of the Shipyard Termination Agreement The amount of RMB740 million currently owed by TPFL and TQSL Holding to GZE arose from the aborted sale by TPFL and TQSL Holding of an aggregate of 95% equity interest in TQS to Grand China Logistics pursuant to the Shipyard Sale and Purchase Agreement, the interests, rights and obligations of which were assigned by Grand China Logistics, an Independent Third Party, to GZE.
On 23 August 2012, TPFL filed a counterclaim against Grand China Logistics to seek, among other remedies, specific performance by Grand China Logistics of the Shipyard Sale and Purchase Agreement.
While the requisite regulatory and shareholder’s approvals for the first two stage payments totaling RMB800,000,000 were obtained, only RMB740,000,000 has been received to date and the equity interests in Titan Quanzhou Shipyard have not yet been transferred to Grand China Logistics.
While the requisite regulatory and shareholder’s approvals for the first two stage payments totaling RMB800,000,000 were obtained, only RMB740,000,000 has been received to date and the equity interests in TQS have not yet been transferred to Grand China Logistics.
The Group was informed by Grand China that Grand China encountered difficulty in registration of the Grand China Shares.
On 30 May 2012, Grand China Logistics commenced legal proceedings against the Company, TPFL and TQSL Holding to seek an order for, among other things, the termination of the Shipyard Sale and Purchase Agreement and repayment of the amount of RMB740,000,000 that was paid by Grand China Logistics together with accrued interest or for the Company to fulfil its obligation under its guarantee to repay such amount.
In addition, the registration process is required to have the approval of the local authority of Hainan Province, which did not expressly support the registration of the Grand China Shares.