Guangzhou R&F Listed as 'Dishonest Person' in China After Failing to Comply with Court Order

MT Newswires Live01-21 18:27

Guangzhou R&F Properties (HKG:2777) said it was listed as a "dishonest person" subject to enforcement after failing to comply with a court order in China, according to a Hong Kong bourse filing Wednesday.

The property developer was ordered to pay a fine of 249,176 yuan, plus interest and enforcement fees, by the Linfen City district court which remain unpaid.

The court also imposed a restriction on non-essential or luxury spending but the company was found to have violated the prohibition.

As a result, the firm was formally included on the court's list of dishonest persons subject to enforcement.

Guangzhou R&F said it was in communication with relevant institutions to reach an appropriate solution.

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