Developer Kwong Sang Hong International has flouted a mainland court ruling that it pay a real estate company $2.9 million for a joint venture, a writ states. Wuhan Zhong Shuo Hong Real Estate Co is claiming about $10.69 million, which includes 8.38 million yuan (about HK$7.79 million) in damages and costs. It says the two companies agreed to a joint venture in Wuhan City, Hubei province in 1994, with Kwong Sang having to pay $26 million by instalments. A third instalment was not paid, leading to action against Kwong Sang in the Higher People's Court of Hubei in 1995, the High Court writ states. In May 1996, a judgment had been obtained against Kwong Sang, whose subsequent appeal to the Supreme People's Court had been dismissed. The court had ordered that $10 million be paid as the third instalment, plus interest. Damages were assessed at just more than eight million yuan, with costs at 824,000 yuan. Only a portion of these amounts had been paid, the writ said. Wuhan Zhong Shuo had demanded payment on July 16, but Kwong Sang had failed to settle, the writ said. China Estates has a 64 per cent stake in Kwong Sang which it bought from the liquidator overseeing the sale of Peregrine Investments Holdings assets.