Puda Coal Inc PUDA

Puda Coal, Inc. (Puda) is a supplier of high-grade metallurgical coking coal to the industrial sector in the People’s Republic of China (the PRC or China). Its processed coking coal is primarily purchased by coke and steel producers for the purpose of making the coke required for the steel manufacturing process. Puda’s operations are conducted by Shanxi Puda Coal Group Co., Ltd (Shanxi Coal), which it controls through 90% indirect equity ownership. Puda cleans raw coking coal sourced from third-party coal mines primarily located in Liulin County, Shanxi Province, and markets the cleaned, coking coal to coke and steel makers. Its primary geographic markets include Shanxi Province, Inner Mongolia Autonomous Region, Hebei Province, Beijing and Tianjin, China. It purchases raw coal from a diversified pool of local coal mines in Shanxi Province.

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Puda Coal Inc > Letter opposing motion for default, re: Zhao

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Comment by talcinoon Nov 13, 2014 12:08pm

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Post# 23124798

RE:Letter opposing motion for default, re: Zhao

Every shareholder of PUDA should appreciate your effort and time to post such great details of the case status. (1) Is this case (Case No. 1:11-CV-2598 (KBF)) refers to the suit by SEC or the Class Action? Which one demands about USD $270 million for damage amount? (2) Can we infer that this letter implies that Zhao is willing to settle by paying some damage compensation, but only disagree on the amount demanded by the plaintiff(s)? (3) Can we conclude that, since Zhao is willing to settle by paying damage compensation, he will not do buyout at all? Bob (thanks for your e-mail)

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