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ISDN's China subsidiary sued for loan taken out by former employee

Chan Chao Peh Published on Mon, Oct 29, 2018 / 11:15 PM GMT+8

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SINGAPORE (Oct 29): ISDN Holdings says its Beijing-based subsidiary company has been sued by an individual seeking repayment of an RMB9.5 million ($1.9 million) loan made to a former employee.

Duan Hong Xing, a former employee of Beijing Junyizhicheng Technology Developing Co, had allegedly borrowed the money from an individual named Wang Yu.

According to the writ of summons filed on Oct 29 by Wang in the Beijing Dongcheng People’s Court, Beijing Junyizhicheng Technology Developing Co stood as guarantor to the loan.

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ISDN's China subsidiary sued for loan taken out by former employee