The South China Morning Post is reporting that Linda Ching, the daughter of Ching Mo Yeung who is accused of financial crimes by China, is no longer part of the Dinoking deal and replaced by another investor. Her investment was revealed in documents filed with the British Columbia Securities Commission and the US Securities and Exchange Commission. However Dinoking has informed Premier that the funding note involved was replaced by another investor on 6 Jul 2015.
Interestingly the three members of the finance group that Dinoking put together are difficult to verify. The Post was unable to confirm one identity and two are firms in the British Virgin Islands making it impossible to learn the owners due to secrecy laws.
Okay so we have investors whose names and identities are deliberately being kept secret. And a connection to a figure seeking refugee status in Canada who the Chinese say committed financial crimes (and also being sought by Interpol as well). Does make one wonder if the motive behind the Seller’s lawsuit is buyers remorse. And this is a way to scuttle the deal. Well just a thought.
Source:Linda Ching, Daughter Of Chinese Corruption Suspect Michael Ching, Is Replaced As Investor In Titanic Firm’s Merger(11 Sep 2015,South China Morning Post)