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Vibrant Group units face lawsuit in China
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Janice Heng
Published Mon, Sep 10, 2018 · 09:50 PM
Singapore
EIGHT subsidiaries of logistics firm Vibrant Group are being sued for allegedly failing to meet certain payment and guarantee obligations under a 500 million yuan (S$100.7 million) loan facility for which they had provided security.
The suit was filed by China Minsheng Banking Corporation (Chong-qing branch) in the Chongqing People's High Court against 12 parties, including eight of Vibrant's subsidiaries held through its fully-owned subsidiary Blackgold International Holdings.
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