(Nov 15): Wingtech Technology Co said it opposes a Dutch court’s latest interim order in the dispute over Nexperia and plans to appeal, arguing the ruling lacks a factual basis and contains fundamental legal flaws, according to a stock exchange filing on Sunday.
The order requires Wingtech and its Yuching Holding unit to withdraw two claims in a Chinese lawsuit within seven days and bars them from enforcing specified portions of a Chinese court order. Penalties for breaches of all the measures imposed by the Dutch court are capped at a combined €300 million (RM1.35 billion).
Wingtech said the ruling isn’t a final judgment on the underlying dispute and doesn’t affect the validity in China of the preservation orders issued by the Chinese court.
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