Hanergy in Hong Kong office rent dispute - report

Facebook
Twitter
LinkedIn
Reddit
Email

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

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.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA