Forex Refinance Loans Home Equity Loan Investment
Refinanceloanshomeequity Refinance Loans Home Equity Refinance Loans Home Equity Id Archives Xinbanhongloumeng Daiyuzhuan Comment Page 1 Refinance Loans Home Equity Hany Zeng Han Lin 曾汉林: Confession by someone who framed me...
Refinanceloanshomeequity Refinance Loans Home Equity Refinance Loans Home Equity Id Archives Xinbanhongloumeng Daiyuzhuan Comment Page 1 Refinance Loans Home Equity
During that time, dozens of national law experts and authorities had express suspicions on this case. The Guangdong Flying Dragon fraud case had later became a classic case study and can be downloaded from the Internet. The whole fraud case was a riddle, whether it was the Chengdu Intermediate People’s Court failure to acknowledge the truth or Chengdu Lianyi deliberately concealing the truth, till today, it remains a mystery!
The so call evidence in this criminal fraud case was suspected to be fabricated.
At that time, Guangdong Securities Investment Bank had even protested against the evidence presented by Chengdu Intermediate People’s Court as published in the media. As well as the so-called "supplementary agreement" signed by Guangdong Flying Dragon was obviously signed a month later after Guangdong Flying Dragon had pledge its equity as collateral to Bank of Communication to obtain the loan and the Shenzhen Stock Exchange had even made a public announcement according to the transaction, it is retroactive. The supplementary agreement did not even obtain the Guangdong Flying Dragon company seal even though the supplementary agreement also states that it requires both parties companies stamp to be effective. So, can this supplementary agreement still be considered as a valid legal document to be use as court evidence? This fabricated evidence clearly is illogical and a violation of the laws. Only if the supplementary document was signed during the first equity transfer agreement or in the presence of Bank of Communication before pledging the equity to the bank as collateral for loan be considered as a reasonable and fair transaction. A one-sided signed agreement is an incomplete agreement and has no legal enforcement effect on the other parties.
In fact, the whole Guangdong Flying Dragon fraud was filled with twists and turns, it was a discrimination against them. It begins with the capital injection by Guangdong Flying Dragon into Chengdu Lianyi and successfully turn this listed company around with profitability. In 1997, Chengdu Lianyi rely on Guangdong Flying Dragon funding and managed to increased the retained earnings by another 27.92 million yuen and thus launched a 1997 annual allocation plan of each 10 shares will be allocated 3 shares free of charge to upsize your share allotment by another 3 shares. All shareholders big and small, major or minority had all gained from this irreversible beneficial result. Not only that, Guangdong Flying Dragon had also induced this listed company to achieve the desired share placement financing qualifications. Share placement in 1999 was expected to amount up to about 2 billion yuan. However, the interests of the share placement program distribution were the fundamental reason for the breakdown of both parties working relationship. Chengdu Lianyi Chairman Xu Huaizhong personally feels that the funding from the share placement program will emphasize on the development in Guangdong which may result in most of the funding being controlled by Guangdong Flying Dragon.
Unfortunately, Guangdong Flying Dragon Group was hit by the 1998 Asian financial crisis, coupled with construction of new improved highway, the waterway and land passenger transport industry had became very highly competitive. The advantage from the monopolize ferry passenger business suddenly disappear and this has a chain reaction on the cash flow of Guangdong Flying Dragon. Originally, the share placement program was expected to solve the financial problem for Guangdong Flying Dragon. In the first equity transfer agreement signed between Chengdu Lianyi and Guangdong Flying Dragon, since the share placement program was expected to occur: the third and fourth equity transfers repayment fee to Chengdu Lianyi will be financed by the fund from the 1st allotment of this share placement exercise. Who would have thought that the Chengdu Lianyi Chairman Xu Huaizhong had decided on a death sentence for Guangdong Flying Dragon by coming to his own conclusion that Guangdong Flying Dragon was caught in financial crisis and is no longer of value to his listed company. The sudden operational crisis of Guangdong Flying Dragon was made known by the listed company through a related announcement issued in 1998.
Xu Huaizhong took into account the situation at that time and ruthlessly orchestrates the entire process of Guangdong Flying Dragon fraud conspiracy.
The first step, the use of extraordinary measures to reject the share placement program proposed by Guangdong Flying Dragon in order to avoid the allotment fund from falling into the hands of the Guangdong Flying Dragon. The strange thing was, Guangdong Flying Dragon holds 40% stake in Chengdu Lianyi and was the largest single shareholder. Logically speaking, the share placement program was supposedly to benefit them all and was absolutely imperative to proceed on which basically no one can oppose. But the fact that Chengdu Lianyi Chairman Xu Huaizhong actually uses unconventional means to gather 63% equity votes in shareholders general meeting (including the 40% equity votes held by Guangdong Flying Dragon) to rejected share placement program.
It seems an illogical thing to do as perceived by the public as apparently the dispute of this share placement program was considered an absurd act of harming others without any self-interest and not benefiting any shareholders at all. The media feel bizarre. This also reveals the internal management dispute among Chengdu Lianyi board members. In fact, before the Chengdu Lianyi Board rejected the share placement program, it has secretly gone into contact with the then well-known Sanjiu Enterprise Group to privately discuss the acquisition of the shares held by Chengdu Lianyi of 21.6% and Guangdong Flying Dragon of 40% stake. Through the several years of hard work by Guangdong Flying Dragon management team, it has successfully promoted the listed company to share placement eligibility. To Sanjiu Enterprise Group, it was a very lucrative deal. If the agreement went smoothly according to plan, Chengdu Lianyi will expected pocket a 100 million yuan profit, while Sanjiu Enterprise Group will only need to pay the price of a 100 million yuan to gain control of a listed company with more than 500 million market capitalization with expectation of getting over 200 million share placement proceeds to fund for future development within six months time.
On the contrary, Guangdong Flying Dragon will lose it control of Chengdu Lianyi through this one time equity trading. The supplementary agreement also declare that Guangdong Flying Dragon was supposed to fast track the profit earnings for first half of 1999 earnings to ensure Chengdu Lianyi interim net capital gains rate achieved more than 3% so that Chengdu Lianyi continued to stay qualified for the share placement. Ultimately, Chengdu Lianyi even insisted that Guangdong Flying Dragon have to hand over the 75% Guangdong Flying Dragon High-speed Shipping equity that was injected into Chengdu Lianyi unconditionally to Chengdu Lianyi. This unfair and unreasonable supplementary agreement was deemed as "hijack agreement" by Bank of Communication at that time.
h Equity Refinance a Page e Refinanceloanshomeequity 0%BE%AD%B5%E4%BE%E7%C7%E9%C6%AC%CC%D8%C3%FC%82S%E9L-%C4%A6%C1%BC%D2%B0%C8%CAB Refinanceloanshomeequity % Archives D Loans B%BE%AD%B5%E4%BE%E7%C7%E9%C6%AC%CC%D8%C3%FC%82S%E9L-%C4%A6%C1%BC%D2%B0%C8%CA%E Refinance % Loans EsearchE Xinbanhongloumeng %
t Equity r Home o0 searchasearchtsearch searchssearchZsearchn
H Home nsearchi Home Loans Daiyuzhuan ic Archives i%BE%AD%B5%E4%BE%E7%C7%E9%C6%AC%CC%D8%C3%FC%82S%E9L-%C4%A6%C1%BC%D2%B0%C8%CA Equity r Archives a Loans s Loans s Home esearcht