Shanghai: CSC Phoenix announced yesterday that Wuhan Maritime Court has dismissed an objection raised by the company on the jurisdiction over its loan dispute with China Minsheng Bank.
CSC Phoenix reckons the nature of the case is a loan contract dispute and it should be handled by the People’s Court, however, Wuhan Maritime Court believes it has the jurisdiction as the loan has been used as shipping expenses, meanwhile, it still gives the company the right to appeal to the Hubei Higher People’s Court. [15/08/13]
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