Court approves CDB’s request to freeze Nanjing Tanker assets

Dalian: Delisted Nanjing Tanker announced today that China Development Bank, a major creditor bank of the company, has applied with Beijing Railway Transportation Intermediate Court to freeze RMB511m worth of assets of the company. The court has approved the request.

Nanjing Tanker said it currently owes $83.97m in total to CDB and the company has been unable to repay the loan due to the severe financial situation of the company.

The oil shipping arm of Sinotrans & CSC will officially delist from the stock exchange on June 4. [28/04/14]

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