Landing International Development Limited Preparing to Go to Court

Landing International Development Limited Preparing to Go to Court
Yann Zhihui, a Chinese casino magnate, will be going to court over company ownership structure

Landing International Development Limited is a prominent Asia-based investment holding firm that primarily focuses on the development and management of fully integrated entertainment, leisure and casino resort facilities. The company operates across several different segments including gaming business, integrated casino resort development, and property development. It has been established on the 30th of October, 2001 in Hong Kong.

Today, the company mainly operates in Korea, while it is present in other Asian countries to some degree. The man who is behind this massive casino operator, Yann Zhihui has recently announced that he is going to file a civil lawsuit against several investors. According to Mr. Zhihui, these investors are maintaining to keep control over half of the company’s shares.

As revealed by GGRAsia, Yang Zhihui who is Chinese casino magnate revealed the news several days ago in one of his official press releases. As stated by Mr. Zhihui he had just filed a court order in advance of the court action against Lai Kar Yan and Glen Ho Kwok Leung over claims that their Landing International Limited subsidiary based on the British Virgin Islands holds over 50.48% stake in the Landing International company.

Inconsistent Claims

As reported by GGRAsia, the Landing International Development Limited company listed on the Hong Kong stock exchange is responsible for the Jeju Shinhwa World venue located in South Korea. It was also reported that the company has been long attempting to get official permission to construct its already envisioned NayonLanding facility in the Philippines worth around $1.5 billion.

The company allegedly detailed earlier in November that two of its investors were actually seeking a way to assert complete receivership rights over the aforementioned majority interest. Then, on the 29th of April, the company’s filing had explained that the Landing International Limited firm was actually the ultimate holding form of the casino operator company with Yang Zhihui as the company’s sole shareholder.

Back on the 6th of November, several news outlets reported that Yang Zhihui serves as the Landing International Development Limited’s Executive Director and Chairman, but he mysteriously went missing in August last year amid circulating rumors that he had been arrested by law enforcement officials while paying a visit to Cambodia. The casino magnate emerged on the scene several months later.

In his first official press release after being missing for several months, he said that he had not been arrested, but that he had been assisting Chinese officials with investigations. Shortly after, he was confronted with information that Lai Kar Yan and Glen Ho Kwok Leung had acquired over 50.48%shareholding or the substantial shareholding in his company while representing the Deloitte Touche Tohmatsu LLC company which is a financial audit expert.

Yang Zhihui Filling the Writ of Summons

The most recently revealed information on this matter shared by GGRAsia and several other news outlets regarding Mr. Yang’s decision to file the writ of summons in order to try to get a declaration that the previously made appointment deeds of the receiver are in fact invalid. Following the news, Landing International Development Limited used its official press release to proclaim that the company’s officials intend on sharing further announcements related to the court action regularly every month in order to keep all of the company’s shareholders and all of its potential investors updated on the matter.

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