BRIEF-China Cinda Asset Management updates on the litigation by Junefield Real Estate

April 5 (Reuters) - China Cinda Asset Management Co Ltd

* Civil judgment issued by beijing court on december 18,

2014 shall be rescinded

* Cinda Properties shall repay interests in a parcel of

relevant project land received pursuant to framework agreement

* Cinda Investment shall pay rmb1 billion as liquidated

damage to junefield real estate within 10 days after judgment

becomes effective

* Junefield real estate shall repay contract amount of about

rmb2.21 billion and resettlement fee of about rmb0.53 billion to

Cinda Investment

* Co currently assesses that litigation will not have

material adverse effect on operating results and financial

condition

* Supreme people's court has recently issued a civil

judgment stating counterclaims from cinda properties shall be

rejected

* Updates on second trial judgment made on litigation filed

by Junefield Real Estate against Cinda Investment, Cinda

Properties and Cinda Beijing Branch

* Possibility for Cinda Investment to generate actual loss

under judgment is small

* Legal costs of first trial judgment RMB5 million and of

second trial judgment rmb5 million shall be assumed by Cinda

Investment and Cinda Properties

Source (http://bit.ly/2nX1iNP)

Further company coverage: