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Giant Credit sues UTime for HK$20.4M over alleged loan guarantee obligations
FXHOUTime Ltd
UTime Limited disclosed that it was served with legal proceedings in the High Court of Hong Kong initiated by Giant Credit Limited. The plaintiff alleges UTime acted as a guarantor for loan obligations owed by another defendant and seeks approximately HK$20.4 million in aggregate, plus interest and costs. The company is reviewing the claims with legal advisers and intends to defend its interests vigorously, though it cannot currently estimate the ultimate outcome or potential loss. UTime Limited operates in the technology sector, providing software solutions.