Grand China’s shares in Tianjin Marine frozen for two years

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]

 

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