Greater China

Court freezes equity of CSC Phoenix parent

Shanghai: CSC Phoenix announced that it has received a notice from Wuhan Intermediate People’s Court that the court has frozen all 17.89% equity its parent company Changjiang Shipping Corporation (CSC) holds in the company for two years.

CSC Phoenix is currently working on a restructuring according to a plan approved by the court. Now it has completed the conversion of capital reserve funds to share capital. [01/08/14]

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