China Natural Gas Demands Toss Of Involuntary Ch. 11

Law360, New York (May 23, 2013, 6:49 PM EDT) -- China Natural Gas Inc. on Wednesday urged a New York bankruptcy judge to throw out the involuntary Chapter 11 proceedings commenced by a hedge fund owned by one of its directors, saying the filing was part of the director's effort to gain control of the company.

The natural-gas pipeline operator, known as CHNG, claims Xiang Dong Yang, who owns Abax Lotus Ltd. and Abax Nai Xin A Ltd., had expressed interest in taking the publicly traded company private before the two Abax entities and Lake Street...
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