French Mediation Failed Three Times And Chenming Paper Giant Trap Shutdown Deadlock
Recently, Eernuowei Higgins Chenming Specialty Paper Co.
, Ltd. (hereinafter referred to as "joint venture") prosecution of Shandong Chenming Paper Group Co., Ltd. (hereinafter referred to as "Chenming Paper"), finally the first instance the case of infringement verdict.2009 7 months, due to the security of the joint venture will employ computer stealing and selling, Chenming Paper sent security personnel stationed on the joint venture company to "defend the administration." Since then, with 70% of the shares of the major shareholders was Chenming Paper officers outside the block in the enterprise. August 17, 2009, the joint venture will prosecute violations to the Weifang Chenming Paper Intermediate People's Court.
Chenming Paper respect that the joint venture company has been operating from the foreign shareholders, management, and from the company since its establishment, due to poor management of foreign operations, accumulated deficit caused about 1.4 million serious violations of the defendant's shareholders. Shareholders have the right to protection as a joint venture property and the interests of shareholders.
But according to the Weifang City Intermediate People's Court on Jan. 8, 2010 the verdict, Chenming Paper "unilateral sent security personnel stationed in the plaintiff company, and to obstruct the plaintiff entered the factory management staff, should be violations" and decision " the withdrawal of security personnel, to stop infringement, eliminate the obstruction, the decision within ten days after the commencement of discharge is completed. "
2010 3 2, Aernuowei former president of the root Addis Pacific region, the current chairman of the joint venture is open to the media treatment Tong said, "Although the first instance, won the case, but to date foreigners are still being blocked, seeing his business but can not enter. "
Publish the results in court, the Chenming Paper Holdings did not appeal the case, but sent a fax to the joint venture letter, "During the stock transfer, all the properties the company to stop the transfer, sale, to prohibit All the properties factory; stop all funds to pay for the company. "
And then write back and Chenming joint venture, said the joint venture contract and company law under the provisions of the joint venture board of directors is the highest authority, entitled to exercise the legal right to property, both shareholders of the negotiations on share transfer does not affect The legal status of the joint venture does not affect the board to exercise its powers. Your company as a joint venture of small shareholders, no right to go beyond the board, directly to the joint venture's property and funds to pay any claims made.
Tong treatment that Chenming in China Papermaking Industry leading enterprises, the first has A + B + H shares of listed companies, should respect the authority of the court verdict. As a shareholder, Chenming should not prevent enterprises to resume production, blocked the major shareholder to exercise the fundamental rights of business operations. France Aernuowei Higgins is the world's largest manufacturer of paper technology, the specialty paper industry ranks the world top three. October 28, 2005, Aernuowei Higgins and Chenming Paper in the Chenming Industrial Park sign joint venture agreement, joint venture, manufacturing specialty paper products. Item 200 million yuan registered capital, an investment 320 million yuan, annual output of 50,000 tons specialty paper. The project was officially put into operation in January 2008. Among them, 70% Eernuowei Higgins, Chenming Paper accounts for 30%.
Eernuowei Higgins had hoped to build this factory's production base in Asia-Pacific region, the factory construction of paper plants in accordance with international top standards, technology and equipment, called the most advanced in China. But the plant started only 9 months cut-off date. Details are Site "French Paper giant quagmire trap foreign joint venture shareholder lawsuits"
Treatment Tong said in public that from mid-July to the present, a total investment of nearly 600 million business, with the most advanced technology and equipment, a joint venture company, to not let the door for Chinese shareholders and long-term shutdown, seeing the market turns for the better and not resume production. The shutdown caused the loss of a month reached nearly 800 million. As of September 2009, the company has accumulated losses of nearly 140 million yuan. Chenming clear that the purpose is to crowd out the foreign shareholders, control the joint venture.
2010 1 29 to February period, in the Shandong Province Ministry of Commerce, coordinated by the three joint venture Chenming Paper and sat down at the negotiating table.
French Mediation Failed Three Times And Chenming Paper Giant Trap Shutdown Deadlock
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