China Rongsheng Heavy Industries announced on Thursday it has gained court favour over an aborted plan to takeover an engine maker, Seatrade Asia online reports.
China Rongsheng said it “received written judgment from the Nantong People's Court, pursuant to which the Nantong People's Court dismissed all the claims made by Aegon Industrial Fund against Jiangsu Rongsheng Heavy Industries.”
The privately-owned Chinese shipbuilder was hit with a RMB16.37m ($2.6m) writ by Aegon Industrial Fund in September 2012 after it annulled a contract to acquire Quanchai Engine from Aegon Industrial Fund.
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