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LANDING INTERNATIONAL DEVELOPMENT LIMITED TO COURT
The man behind Asian casino operator Landing International Development Limited has reportedly announced he will file a civil suit against two investors who continue to control more than half of the company’s shares.
Chinese casino mogul Yang Zhihui said on Friday it had filed a ‘callout’ before initiating a lawsuit against businesses Glen Ho Kwok Leung and Lia Kar Yan over allegations that British Virgin Islands-registered Landing International vehicles hold a 50.48% stake in Landing International, according to a report by GGRASIA.
GGRASIA reports that Hong Kong-listed Landing International Development Limited is responsible for South Korea’s huge Jeju Shinhwa World Resort facility and has long sought formal permission to build a $1.5 billion Nayon Landing venue in the Philippines. The company specifically noted earlier last month that the two investors claimed control over a number of alleged shares, and explained on April 29 that one company owns “International Casino Limited.”
Yang is serving as chairman and executive director of Landing International Development Limited, but went missing in August 2018 amid rumors he was arrested by Chinese law enforcement authorities during a visit to Cambodia, CalvinAyre.com reported in a Nov. 6 article. The tycoon allegedly claimed months later that he was simply helping officials to counter claims from Leung and Yan that he acquired a significant stake in his company while representing finance expert Ltuache LLC.
Landing International made a “monthly” “further announcement” of the court’s action progress, declaring it “to keep up-to-date with the company’s shareholders and potential investors,” using Friday’s filing alleging Yang submitted a “calling” to receive a “declaration of invalidity of the underwriter appointment.” 슬롯게임