Wharf Holdings loses appeal in U.S. Supreme Court over 153 mln usd

HONG KONG (AFX-ASIA) - Wharf Holdings Ltd chairman Gonzaga Li said the company has lost an appeal in the U.S. Supreme court over an alleged option to invest in the group's cable television franchise.

	    The company was ordered to pay 153 mln usd in damages, costs and interests to a third party in 1997 by the District Court of Denver.

	    Speaking to reporters after the company's AGM, Li said the company had made a provision of 1.5 bln hkd two years ago.

	    He said the company is not considering making further provisions.

	    Wharf Holdings appealed against the judgement and the sum of the award but the Court of Appeals affirmed the judgement made by the District Court and upheld the judgement sum in May last year.

	    In September, the company appealed to the U.S. Supreme Court.

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