Sainty Marine has announced that its subsidiary Sainty Marine Development has filed a lawsuit against two Chinese companies over payment disputes.

Sainty Marine Development has sued Nanjing Fengan Technology and Jiangsu Zhongxian Group and asked them to repay debts of RMB8.56m and RMB1.63m respectively.

The two companies took loans from Sainty Marine Development in 2012 and 2013 for the purchase of raw material and equipment, but they haven’t repaid the loan according to the contracts.

Currently Sainty Marine is making efforts to restructure debt ridden Nantong Mingde Heavy Industry.