ARC Capital Holdings has been award RMB90m plus interest and arbitration fees by the China International Economic and Trade Arbitration Commission in respect of ARC Capital’s sale of Jiadeli Supermarkets. The sale concluded in October 2010 but the buyer, HNA Group, and ARC Capital were unable to agree on the amount of a “holdback” related to the sale.
ARC Capital Holdings cautions however that “although this is a positive development, it will take much time and effort to enforce the award and there is no guarantee the amount awarded will be fully recovered”.