SAN FRANCISCO, November 18 morning news, litigation has progressed to CDC's parent company EvolutionCapital of CDCCorporation its debt, CDC issued a statement yesterday, accusing EvolutionCapital intervention CDC's management and operations, damage its interests of the company. Background review EvolutionCapital CDC is the last unsecured convertible bond holders not associated. In March, CDC filed a lawsuit against Evolution, alleging breach of a number of confidentiality agreements, breach of the sale agreement for the unsecured corporate bonds, interference of business relations, and claims $ 295 million. After the Evolution of CDC and its subsidiaries also filed a lawsuit, claims more than $ 60 million,
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. Peter Yip, CEO of CDC latest developments said in a statement,
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, CDC "for Evolution rejecting the settlement, interfere with the normal management of the company, the company dividend obstruct expressed disappointment and dissatisfaction" . Said Peter Yip, based on current developments, consider adding them to this case allegations of Evolution and increase the number of defendants. CDC is also interested in more than the shareholders sue Evolution infringement of its rights and interests. Yip said: "The end of the second quarter of 2010, the CDC's cash and cash equivalents of up to 107 million dollars, we have sufficient cash flow to fulfill its obligations under the unsecured corporate bonds, we will continue the dialogue with Evolution, in order to reach a mutually satisfactory solution. "CDC plans to raise objections to the preliminary injunction on November 10 this year, the Supreme Court of New York issued. Evolution of an injunction in accordance with the requirements prohibit the CDC unilaterally repeal the relevant provisions of unsecured corporate bonds of its agreement signed with Evolution. (Chin Liang) Related articles:
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