News: OVH OneVue Says China-Taiping Asserted Competing Security Interest In Madison Financial Group

June 1 (Reuters) - OneVue Holdings Ltd (OVH) :

• CHINA-TAIPING HAS ASSERTED COMPETING SECURITY INTEREST IN SHARES OF MADISON FINANCIAL GROUP
• CONSIDERING CHINA-TAIPING CLAIM, & IF NECESSARY, INTENDS TO SEEK COURT DETERMINATION AFFIRMING ITS PRIORITY INTEREST & ENTITLEMENTS
• MAINTAINS CO HAS PRIORITY SECURITY INTEREST & ENTITLED TO WHOLE OF SALE PROCEEDS OF MADISON FINANCIAL
• CHINA-TAIPING ALSO ASSERTED COMPETING SECURITY INTEREST IN SEQUOIA SHARES
• UNABLE TO ESTIMATE QUANTUM OF ANY RECOVERIES PENDING FILING OF CLAIMANTS' EVIDENCE
• ENVISAGED POST SALE, COMPETING CLAIMS TO SALE PROCEEDS WILL BE RESOLVED BY AGREEMENT OR COURT DETERMINATION