Dalian: Tianjin Marine announced that the company has been informed by Tianjin Maritime Court that the 250m shares owned by its controlling shareholder, Grand China Logistics, have been frozen for a period of two years. The shares were initially frozen by a maritime court in Qingdao last August.
Grand China has 276m shares in the company, accounting for 29.93% of the total shares of Tianjin Marine.
Grand China’s debt problems have seen multiple cases pile up against it in recent years. [13/02/14]