On July 20, 2023, the First International Commercial Court of the Supreme People's Court heard an international commercial case in open session in a new courtroom of the First Circuit Court Building.

The case concerns a guarantee dispute between the plaintiff, Singapore Kenon Holdings Ltd., the defendants, Shenzhen Baoneng Investment Group Co., Ltd. and Yao Zhenhua, and the third party, American Quantum Corporation. Arising out of the loan of Qoros Automobile Co., Ltd, the case involves a commercial dispute of a huge amount and parties from the United States and Singapore, with the legal issues argued on the interpretation of cross-border commercial contract terms and atypical guarantees.

Related Links: 最高人民法院第一国际商事法庭首次启用新法庭 公开开庭审理案件

*The original text is Chinese and has been translated into English for reference only. If there is any inconsistency or ambiguity between the Chinese version and the English version, the Chinese version shall prevail.