The second assigned debt, which includes accrued interest and penalties, is part of the total sum of RMB 59,385,282 plus accrued interest and penalties relating to outstanding progress payments for the construction of the multi-modal logistics distribution centre in Chongqing, China.
Figtree Holdings says that it has entered a second debt transfer agreement with China Railway Construction Engineering Group (CRCE).
The second debt transfer agreement involves CRCE agreeing to sell and assign, and the subsidiary of Figtree to acquire, a further portion of the debt owed by Vibrant Pucheng, amounting to approximately RMB23,365,327 ($4,269,665.37) for a consideration of RMB 18,000,000.
