Breached Contracts

Contract Number: 1303160088 issued on April 18, 2011, 4:54 pm and became overdue for payment on April 27,2011

Company Name: Tung Fai Holdings Company Limited
Address: Flat25 2F Phase 1 Newport Centre
118 Ma Tau Kok Road
City: Tokwawan Kowloon Hong Kong
Contact: Johnny Shum
Telephone: 85223901515
Fax: 85227869987
Email: johnnyshum@tungfaihdg com

Shipping to to be provided located in to be provided

Client ordered 300000 MTW of our material code Iron Ore-Mexico 64.5 for 12 months at a price of $ 138 USD to be unloaded in China - Tianjin
Client currently owes $ 496,800,000 USD from April 27,2011 which is a full breech of contract on the initial amount of $ 41,400,000 due on April 27,2011
Client has not made any attempt to settle this debt nor to make any payment thereon and is assumed to be financially insolvent.
Client has made the following comments related to this posting: