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OUE Lippo Healthcare to appeal Shanghai courts' judgment on Weixin claim

PC Lee Published on Thu, Dec 21, 2017 / 8:31 AM GMT+8

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SINGAPORE (Dec 20): OUE Lippo Healthcare, the former International Healthway Corporation (IHC), says the Shanghai courts had rendered a first instance judgment in favour of Weixin Hospital Investment Management (Shanghai) Co. regarding claims to two subsidiaries under IHC.

Announced on Feb 22, the claims were against Shanghai Yi Lin Medical Management Consulting Co and Wuxi New District Phoenix Hospital Co by Weixin, a company controlled by David Lin Kao Kun.

Weixin had sought an order for Shanghai Yi Lin to transfer the shares in Wuxi to Weixin. Among other things, Weixin alleged there was a share transfer agreement between Shanghai Yi Lin and Weixin, as well as an alleged commitment letter provided by the then-shareholder and legal representative of Shanghai Yi Lin which purportedly recognised Lin as the beneficial investor for Wuxi Co and Shanghai Yi Lin.