25
Aug
10:27
Lebanon's Demco files winding-up petition against Chinese supplier
Lebanese steel trader Demco has issued a winding-up petition against a wholly-owned Hong Kong subsidiary of the Bohai Steel conglomerate, owned by the Chinese government. The hearing will be held on 6 October at the Hong Kong High Court.
The basis of the petition is an unsatisfied $6.6 million arbitral award rendered in favour of Demco Steel in November 2019 by the London Court of International Arbitration. The Tribunal decided Chinese mainland law was the ap…
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Anonymous
Very good overview of the weekly steel market.
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