משרד עורכי הדין סיידן השיג פסק דין בסך $240 מיליון נגד יצרן שסתומים סיני
Robert Seiden was appointed receiver for China Valves Technology (CVVT) to enforce a roughly $240 million judgment by way of a share buyback order. When the company's chairman illegally transferred subsidiaries to block the receiver, the court granted civil contempt, followed by criminal contempt.
After China Valves Technology listed on the U.S. markets and raised capital from U.S. investors, the company went dark. Robert Seiden was then appointed as receiver for CVVT to enforce a judgment of approximately $240 million against CVVT by way of a share buyback order.
Subsequently, the Chairman, Siping Fang, illegally transferred out the subsidiaries, which blocked the receiver from exercising control over them. The court granted the receiver’s request for a civil contempt against Fang, which was followed by an order of criminal contempt.
Additional information is available in the SEC litigation release.
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