Greater ChinaRegulatory

Bank of Communications drops lawsuit against CSC Phoenix

Shanghai: CSC Phoenix announced that one of its creditor banks, Bank of Communications, has applied with Wuhan Intermediate People’s Court to withdraw a lawsuit it filed against CSC Phoenix in 2013 and the court has approved the request.

CSC Phoenix believes the withdrawal of lawsuit will ease its relations with banks.

CSC Phoenix’s second voting for restructure will complete on February 20. [18/02/14]

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