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Over 400 debtors punished in crackdown
By Zhao Wen |
January 24, 2013, Thursday
|
Online Edition
Online Edition
MORE than 400 defaulting debtors received judicial detention or court sentences last year for ignoring court rulings to pay off debts, the Shanghai Higher People's Court said today.
The number was nearly half of the total punished in the past five years, thanks to a citywide crackdown on defaulters that began in November 2011.
A debtor who went into hiding for many years was detained for 15 days, the maximum of a judicial detention, after he was caught by the staff of the Huangpu District People's Court following a tip-off earlier this month. The heaviest punishment for defaulters is three years in prison.
The higher court said local courts will continue to crack down on defaulters who ignored the court order to pay debts by cooperating with airports and banks to track them down.
Last year, local courts accepted 105,200 cases in which debtors refused to obey the court ruling, an increase of 7.21 percent over 2011. The higher court said the crackdown will target debtors who live a lavish life and punish them severely.
The number was nearly half of the total punished in the past five years, thanks to a citywide crackdown on defaulters that began in November 2011.
A debtor who went into hiding for many years was detained for 15 days, the maximum of a judicial detention, after he was caught by the staff of the Huangpu District People's Court following a tip-off earlier this month. The heaviest punishment for defaulters is three years in prison.
The higher court said local courts will continue to crack down on defaulters who ignored the court order to pay debts by cooperating with airports and banks to track them down.
Last year, local courts accepted 105,200 cases in which debtors refused to obey the court ruling, an increase of 7.21 percent over 2011. The higher court said the crackdown will target debtors who live a lavish life and punish them severely.
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