Costly cases in city’s free trade zone
Print Edition
NEARLY 60 percent of disputes involving companies based in the city’s free trade zone related to securities disagreements triggered by false or misleading statements, Shanghai No.1 Intermediate People’s Court said yesterday.
From April 1, 2016, to April 30, 2017, the court accepted 1,765 cases involving companies based in the free trade zone — more than double those accepted in the previous two years put together.
Seventy-eight of the latest cases involved expatriates and citizens of Hong Kong, Macau and Taiwan. Altogether, securities disputes accounted for 57 percent of the 2016-2017 cases, while 32 percent of the cases concerned contract disputes.
Many of the cases involved hefty sums. On average plaintiffs demanded about 87 million yuan (US$12.6 million) in each case, said Tang Liming, deputy director of the court.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
