Foreland Fabrictech hit with enforcement notice over China suit
The suit involves a lending and guarantee deal going back to 2013; firm says its board didn't know about it
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FORELAND Fabrictech Holdings and one of its units have received a court enforcement notice from Fujian Jinjiang People's Court over an undisclosed lawsuit that began in 2013, involving a private lending and guarantee agreement over seven million yuan (S$1.4 million).
The company said in a Singapore Exchange (SGX) filing on Monday night that the current board was unaware of the agreement which had been entered into by the company, its subsidiary, former executive chairman Tsoi Kin Chit, former executive director Cai Fengquan, and one Quanzhou Xinghao Jixie Youxian Gongsi with Hong Youling.
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