On March 4, 2021, Iszo Capital Management LP announced that the Eastern Caribbean Supreme Court ruled in IsZo’s favor and voided the Nam Tai Property Inc.’s $170 million private placement, which had distributed more than 16 million Shares to Kaisa Group Holdings Limited’s wholly-owned subsidiary Greater Sail Limited. Further, Iszo Capital added that the Court found that the Company’s Board of Directors acted for an improper purpose when initiating the dilutive transaction in October 2020. It was determined that execution of the private placement was a breach of the directors’ fiduciary duties and was undertaken to give Kaisa de facto control of the Company in response to a requisition from approximately 40% of the outstanding Shares to convene a meeting of shareholders to remove and replace the Kaisa-affiliated directors from the Board. As part of the ruling, the Court ordered the Company to convene the special meeting.