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FINWIRES

Thunder Tiger Flags Impairment Losses from Two Lawsuits

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Thunder Tiger (TPE:8033) flagged NT$175.8 million in accumulated impairment losses related to an equity dispute, according to a Tuesday filing with the Taiwan Exchange.

The impairments follow legal action filed by the radio-controlled models manufacturer with a court in Beijing to collect about $6.5 million in arbitral awards related to the dispute.

The company also flagged NT$37.5 million in losses related to a loan, the filing said.

The high court in Zhejiang, China confirmed Thunder Tiger's creditor rights after a lower court released an initial compulsory enforcement ruling.

However, the high court dismissed Thunder Tiger's revocation claim that sought to overturn the court's allocation of land sale proceeds to other parties.

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