China Mining International (SGX:BHD) said its subsidiary, Henan Zhongnong Huasheng Agricultural Technology, has received a court summon and property declaration notice from the Xingyang People's Court about a loan repayment agreement with Xingyang Poverty Alleviation and Development Service Center, according to a Monday filing on the Singapore Exchange.
Zhongnong Huasheng is required to appear at the Execution Bureau of the Court on Jan. 27 and declare its property situation. The company is evaluating the claims and will seek legal advice to determine the next steps.
The court process is expected to take at least six months, during which the company may engage in mediation or settlement discussions.
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