ERJ staff report (BC)
Hong Kong – A Chinese court has rejected a request to relocate the legal dispute between Cooper Tire & Rubber Co. and its China partner to Hong Kong, a court official told Bloomberg.
The Weihai Intermediate People’s Court relayed the decision to the companies via mail, said the official, who asked not to be identified because of court rules.
In July, Chengshan Group sought the dissolution of its venture with Cooper, saying the U.S. partner’s planned $2.5 billion sale to India’s Apollo Tyres Ltd. (APTY) would undermine the Chinese venture’s operations. Cooper has said the litigation lacks merit.
The Chinese venture, which requested the move and is majority owned by Cooper, has 10 days after receiving the court’s notice to appeal, according to the court official.
Apollo spokesman Rohit Sharan didn’t immediately respond to an e-mail from Bloomberg seeking comment.
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