Financial Wire

New Universe Environmental Unit Ordered to Pay Unpaid Dividends After Appeal

-- New Universe Environmental (HKG:0436) said a court ordered its subsidiary to pay unpaid dividends following an appeal, according to a Monday Hong Kong bourse filing.

The High Court ordered New Universe Environmental Technologies (Jiangsu) to pay over HK$25 million to each of two plaintiffs within 10 days after the judgments take effect. It revoked earlier rulings by a lower court.

The case stems from legal proceedings initiated in 2022, when two plaintiffs alleged the subsidiary owed accrued and unpaid dividends and sought claims against both the unit and the company's ultimate controlling shareholder.

All other claims by the plaintiffs were dismissed, the filing said.

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