Warburg Pincus sues Titan Petrochemicals

23-Jul-12
U.S. private equity fund Warburg Pincus, a stakeholder of Titan Petrochemicals Group Ltd, has sued Titan and some of its executives in Hong Kong’s High Court for misrepresentation and breaches of contract, Reuters reported. The suit alleges Hong Kong-listed Titan and its founder Tsoi Tin Chun and two unidentified executives secretly provided 1.48 billion yuan (US$232.22 million) of unauthorised guarantees to subsidiaries. The guarantees led to significant unspecified damages and potential liabilities, according to Warburg, which holds a stake of around 10% in Titan.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha