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January 14, 2020

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Authorities punish debt defaulters

Local courts handled 151,000 applications of judgment enforcement last year and helped individuals or organizations get back more than 26 billion yuan (US$3.7 billion) in debts.

That was an increase of 19.4 and 11.7 percent, the Shanghai Higher People’s Court said yesterday.

For those refusing to obey the ruling, the court handled 39 crimes, detained 1,094 people, released 95,000 pieces of information about those blacklisted and restricted 2,066 from going abroad.

The courts worked with other departments to punish debtors refusing to pay money back. Last year, the local real estate registration bureau restricted people from buying houses 639 times. The market supervision and management bureau blocked people from applying to serve as company executives 7,960 times.

The housing and construction commission restricted 64 bids and qualification approvals for construction and the economy and information commission took action over 3,173 deals involving new-energy cars.

The higher court cooperated with the banking and insurance regulator and banking association in freezing accounts and transferring money based on court verdicts.




 

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