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August 28, 2010

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Tenant wins case over change of ownership

A TENANT has won more than 1.2 million yuan (US$176,500) compensation from the landlord who sold stores without notifying him during the lease, Minhang District People's Court said yesterday.

The plaintiff surnamed Chen signed a 20-year contract with a rental company in 1999 for eight stores in an aquatic food market.

However, Chen found earlier this year that the company sold the stores on Shuying Road in 2006 and launched a lawsuit claiming compensation.

The company said it had told Chen they wanted to sell the stores in 2005 but Chen, who had the right to buy them first, wouldn't do so.

Chen said the company asked him to buy the stores at a much higher price than the price paid by the new owner.

The court ruled that the firm pay 1.2 million yuan to Chen, based on the price difference between the time of the sales and when Chen learned about the sales.


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