Hanergy in Hong Kong office rent dispute - report

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Hanergy Thin Film Power appears to be facing fresh troubles, with the company accused of leaving rent unpaid on a Hong Kong office, according to a report in the Financial Times.

The economic newspaper wrote that an unnamed Hanergy Thin Film Power (HTFP) executive had said this morning that outstanding rent of HK$1.035m (US$133,544) had been paid on 3 December.

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However, a Hong Kong High Court writ filed that same day alleged that the amount owed was HK$1.7 million, with no explanation forthcoming from the HTF executive on the discrepancy between the two amounts. The company had been accused of not paying rent, management charges and “other fees”, the Financial Times said.

According to the report, another high-rise office rented by the company on the 77th floor of the Hong Kong Centre skyscraper has been left empty, with “the doors padlocked and the floor littered with detritus”.

HTF lost its deal to supply IKEA with solar panels which the Swedish furniture company sold in its stores in the UK and other European territories in November. IKEA is expected to continue selling PV, but is evaluating its options and said it will launch a “broader” offering in future, without going into specifics.

In what has been a difficult year for Hanergy, marked by its suspension from trading on the Hong Kong Stock Exchange and close scrutiny from Financial Times and Wall Street Journal analysts, the group also cancelled two contracts worth close to US$2 billion at the beginning of this month.

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