Lawsuit against Chinese citizen, First Hawaiian Bank dismissed


The District Court of the Northern Mariana Islands on Oct. 5 dismissed a lawsuit filed against a Chinese citizen and First Hawaiian Bank. Chief Judge Ramona V. Manglona has ruled that 440,000 shares of Universal Group Development stock and $224,548.07 had been decided in favor of Wanzhong Yu as president of Universal, as well as $204,548 in remaining funds.

Universal had claimed First Hawaiian Bank had breached contract when it froze accounts held by Yu after he was allegedly no longer with the company. In a related case filed with the District Court by Universal . . .

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