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Wal-Mart in dispute over alleged unpaid rent in Dalian
Source: Xinhua |
November 2, 2011, Wednesday
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Online Edition
Online Edition
US retail giant Wal-Mart has entered the media spotlight again in China -- this time over a store rent dispute.
The Wanguo Shopping Plaza Co in the northeastern coastal city of Dalian said Wal-Mart has not paid rent since mid-2002 when a building with a floor area of 16,508 square meters was transferred to the retailer for use.
The company said the two parties signed a 15-year lease at a rate of over 10 million yuan (US$1.6 million) a year.
The Wal-Mart subsidiary in Dalian had applied to terminate the contract in 2003 and 2005 on allegations including delayed construction, illegal delivery, a lack of housing ownership certificate and unfinished projects.
The China International Economic and Trade Arbitration Commission, however, rejected its contract termination demands in 2005 and 2008.
The retailer never opened a store at the building due to the allegations, and, instead, opted to open a new store at another location in Dalian and started construction at that location in June 2010.
The arbitral rulings, like final court verdicts, are law-abiding and, therefore, the lease contract is still in effect, said Yu Zhou, a judge at the Intermediate People's Court in Dalian.
The court is pushing for the dispute to be settled in accordance with relevant laws after Wal-Mart failed to abide by the arbitral rulings over the past few years, according to the judge.
The Wanguo Shopping Plaza Co in the northeastern coastal city of Dalian said Wal-Mart has not paid rent since mid-2002 when a building with a floor area of 16,508 square meters was transferred to the retailer for use.
The company said the two parties signed a 15-year lease at a rate of over 10 million yuan (US$1.6 million) a year.
The Wal-Mart subsidiary in Dalian had applied to terminate the contract in 2003 and 2005 on allegations including delayed construction, illegal delivery, a lack of housing ownership certificate and unfinished projects.
The China International Economic and Trade Arbitration Commission, however, rejected its contract termination demands in 2005 and 2008.
The retailer never opened a store at the building due to the allegations, and, instead, opted to open a new store at another location in Dalian and started construction at that location in June 2010.
The arbitral rulings, like final court verdicts, are law-abiding and, therefore, the lease contract is still in effect, said Yu Zhou, a judge at the Intermediate People's Court in Dalian.
The court is pushing for the dispute to be settled in accordance with relevant laws after Wal-Mart failed to abide by the arbitral rulings over the past few years, according to the judge.
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