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BRIEF-Bank of East Asia updates on legal proceedings
March 6, 2017 / 9:41 AM / 8 months ago

BRIEF-Bank of East Asia updates on legal proceedings

March 6 (Reuters) - Bank Of East Asia Ltd

* Has been served with a statement of claim filed by China Medical Technologies, Inc

* Plaintiff alleges that Supreme Well was controlled by same directors and/or executives of plaintiff who caused funds to be paid by plaintiff to Supreme Well

* Believes that claims in statement of claim are without merit and will vigorously oppose them

* Board considers that statement of claim will not have any material adverse impact on normal business and operations of bank

* Plaintiff alleges that payments of over US$180 million were made from accounts of supreme well and other related entities Source text for Eikon: Further company coverage:

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