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Developer fined for defaulting on wage payment
By Li Qian |
August 21, 2012, Tuesday
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Online Edition
Online Edition
A developer notorious for delaying payments to migrant workers was ordered by a Yunnan Province court to transfer 14 million yuan (US$2.2 million) to a special bank account last night to pay the workers after their children staged a public protest.
Xinhua Shizhaizi Tourism Co in Dali Prefecture, which acquired the developer, Yunnan Guangsha Real Estate Ltd, last year, promised to pay another 1 million yuan in defaulted debts and 5 million yuan as fines, local media reported.
The Dali Prefecture Intermediate People's Court will use the money to pay the workers of the Golden Carpenters Co Ltd, a project subcontractor.
The court said the building project had been subcontracted several times, causing loopholes in management and a dispute among the developer, contractors and subcontractors.
Yunnan Guangsha Real Estate Ltd signed a deal with the local government in 2006 to build a commercial complex with a hotel, a department store and an exhibition venue at a total cost of 97 million yuan. It paid the primary contractor 82.23 million yuan before it was merged.
Xinhua Shizhaizi Tourism Co in Dali Prefecture, which acquired the developer, Yunnan Guangsha Real Estate Ltd, last year, promised to pay another 1 million yuan in defaulted debts and 5 million yuan as fines, local media reported.
The Dali Prefecture Intermediate People's Court will use the money to pay the workers of the Golden Carpenters Co Ltd, a project subcontractor.
The court said the building project had been subcontracted several times, causing loopholes in management and a dispute among the developer, contractors and subcontractors.
Yunnan Guangsha Real Estate Ltd signed a deal with the local government in 2006 to build a commercial complex with a hotel, a department store and an exhibition venue at a total cost of 97 million yuan. It paid the primary contractor 82.23 million yuan before it was merged.
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