JunHe Represents Clients in an Appeal Case consisting of a Confusion of Corporate Personality Dispute between a Parent and Subsidiary Enterprise in m88 casino bonus code Second Instance in m88 casino bonus code Higher People's Court of Zhejiang

2021.06.03

Recently, m88 casino bonus code Higher People's Court of Zhejiang concluded an appeal case of m88 casino bonus code second instance. A Chongqing wind energy industry company sued a Zhejiang-based wind energy equipment manufacturing company and its parent company with 100% equity in respect to a sales contract dispute and confusion regarding m88 casino bonus code corporate personality. m88 casino bonus code amount of money involved in this case was more than RMB 109 million. m88 casino bonus code Higher People’s Court made a typical effective case on m88 casino bonus code confusion of corporate personality of m88 casino bonus code parent company and m88 casino bonus code subsidiary company and m88 casino bonus code independent property of m88 casino bonus code shareholders of m88 casino bonus code one-person limited company. This was after m88 casino bonus code Supreme People's Court issued m88 casino bonus code Minutes of m88 casino bonus code National Court Civil and Commercial Trial Work Meeting (hereinafter referred to as m88 casino bonus code "Meeting Minutes") in November 2019.


In this case, m88 casino bonus code controlling shareholder of m88 casino bonus code defendant entered into bankruptcy and reorganization procedures. Mr.m88 casino review 关于我们,君合概览,办公网络,国际平台,专业荣?, Mr.m88 live casino Practice 评为争议解决领域的领先律?and Ms.M88 login 个人破产业务委员会主任。沈律师在企业破产重组及清算等领域拥有十余年律师执业经?were m88 casino bonus code leading partners, and Mr. Zhao Min and om88 casino bonus coder persons, as m88 casino bonus code agents of this case, provided litigation services in m88 casino bonus code second instance to clients.


During m88 casino bonus code first instance of this case, a Chongqing Wind Energy Industrial Co., Ltd., (m88 casino bonus code plaintiff) sued a Zhejiang based Wind Energy Equipment Manufacturing Co., Ltd., (m88 casino bonus code defendant) to repay m88 casino bonus code total price due under more than ten sales contracts worth over RMB100 million. Meanwhile, it sued m88 casino bonus code parent company that held 100% equity interest in Defendant I (Defendant II), requesting Defendant I to bear joint and several liability for m88 casino bonus code claim on m88 casino bonus code ground of confusion of corporate personality. m88 casino bonus code court of first instance ruled that m88 casino bonus code Defendant II shall be jointly and severally liable for m88 casino bonus code Defendant I. JunHe’s team filed an appeal to m88 casino bonus code Higher Court of Zhejiang Province on behalf of m88 casino bonus code parent company, requesting m88 casino bonus code court to rule that m88 casino bonus code parent company is not jointly and severally liable for m88 casino bonus code debts of its subsidiary.


During m88 casino bonus code second instance, JunHe’s team closely focused on and studied m88 casino bonus code five key considerations in Article 10 and Article 11 of m88 casino bonus code Meeting Minutes regarding confusion of corporate personality cases, and m88 casino bonus code four key considerations in determining m88 casino bonus code controlling shareholder's excessive dominance and control. So as to prepare corresponding evidence to fully demonstrate m88 casino bonus code financial independence and do not have corporate personality confusion between m88 casino bonus code parent company and its wholly-owned subsidiaries in light of past cases and point out that m88 casino bonus code plaintiffs failed to fulfill m88 casino bonus code burden of proof, m88 casino bonus code evidence provided did not prove m88 casino bonus code confusion of corporate personality between m88 casino bonus code two defendants, and m88 casino bonus code provisions of Article 63 of m88 casino bonus code Company Law were not completely applicable to this case. Finally, Higher People’s Court of Zhejian fully adopted m88 casino bonus code opinion of JunHe’s team. It ordered m88 casino bonus code parent company to m88 casino bonus code subsidiary not to bear m88 casino bonus code joint and several liability.


In this case, m88 casino bonus code client was an A-share listed company. m88 casino bonus code outcome of this case had an impact on its share price and m88 casino bonus code bankruptcy proceedings of its controlling shareholders. m88 casino bonus code success of m88 casino bonus code case not only assisted m88 casino bonus code client to boost investor confidence, but also relieved m88 casino bonus code client of m88 casino bonus code huge debt risk of joint and several liability for om88 casino bonus coder potential debts of its wholly owned subsidiaries. m88 casino bonus code clients have highly praised m88 casino bonus code performance of JunHe’s team.

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