On the evening of January 18, Everbright Securities issued an announcement that Everbright Capital, a wholly-owned subsidiary, recently submitted a retrial application to the Shanghai Higher People's Court for litigation related to other contract disputes with China Merchants Bank and Huarui Bank. At present, Everbright Capital has received the Notice of Acceptance of Civil Application for Retrial of the Above Two Cases from the Shanghai Higher People's Court respectively. The Shanghai Higher People's Court decided to file a case review of Everbright Capital's retrial application, and the final review result is still uncertain.
Everbright Securities said that the above matters are still in the stage of retrial and case filing, and the impact on the company needs to be assessed according to the review results of the Shanghai Higher People's Court.
The final outcome of the review remains uncertain
According to the information, Everbright Capital is a wholly-owned subsidiary of Everbright Securities, and its subsidiary Everbright Immersion is the executive partner of Shanghai Immersion Fund.
The MPS project, an investment project of Shanghai Immersion Fund, was declared bankrupt and liquidated in 2018. In February 2019, when the investment period of Shanghai Immersion Fund expired and it failed to achieve the exit as originally planned, the interested parties of the two priority partners of Shanghai Immersion Fund (China Merchants Bank and Huarui Bank) filed a civil lawsuit against Everbright Capital, demanding that Everbright Capital fulfill the obligation to make up the relevant difference, with a litigation amount of about 3.489 billion yuan.
According to the Civil Judgment of the First Instance, the Shanghai Financial Court ordered Everbright Capital to pay RMB3.116 billion and RMB400 million to China Merchants Bank and Huarui Bank respectively. In August 2020, Everbright Capital applied to the Shanghai Higher People's Court for the first-instance judgments in the cases of Huarui Bank v. Everbright Capital and China Merchants Bank v. Everbright Capital, respectively.
On July 8, 2021, Everbright Securities announced that it had received the final judgment of the second instance of the Shanghai Higher People's Court, and the court ruled to reject the appeal and uphold the original judgment. In August of the same year, Everbright Securities announced again that China Merchants Bank had applied for compulsory enforcement of the case, and Everbright Capital received the Notice of Enforcement. Due to the litigation matters of Huarui Bank, a number of bank accounts of Everbright Capital have been judicially frozen.
In January 2022, the case made new progress. Everbright Securities said that Everbright Capital submitted an application for retrial to the Shanghai Higher People's Court in connection with other contract disputes with China Merchants Bank and Huarui Bank. At present, Everbright Capital has received the Notice of Acceptance of Civil Application for Retrial in the Shanghai Higher People's Court for the above two cases, and the Shanghai Higher People's Court has decided to file a case review of everbright Capital's retrial application, and the final review result is still uncertain.
Recently, a number of securities companies have released the progress of litigation
China Securities News and China Securities Taurus reporter combed and found that many securities companies have recently announced the progress of relevant litigation.
On the evening of January 18, Founder Securities announced that Guangzhou Ruifeng, Lin Yongfei, Weng Wuqiang and other customers as the integrator carried out stock pledge repurchase transactions with the company. Due to the default of the stock pledge repurchase transactions carried out by the above-mentioned integrators, the Company, as the applicant executor, applied to the Hunan Higher People's Court for compulsory enforcement in accordance with the law, requiring all the integrators, guarantors and other executors to immediately repay the financing principal owed to the Company and all debts such as corresponding interest and liquidated damages. On January 17, 2022, Founder Securities received the Enforcement Ruling delivered by the Changsha Intermediate Court.
On the evening of January 17, Shanxi Securities announced that its holding subsidiary, Zhongde Securities, had recently received a civil complaint from the Beijing Financial Court, and 2,000 plaintiffs, including Shanghai Junying Asset Management Partnership (Limited Partnership) (hereinafter referred to as Junying Assets), filed a civil lawsuit against 21 defendants including LeTV, demanding that LeTV compensate for the investment losses caused by its misrepresentation behavior totaling 4.571 billion yuan, and requiring 20 other defendants, including Zhongde Securities, to bear joint and several liability for compensation.
On the same day, Zhongtai Securities also issued a similar announcement, as one of the defendants in the above-mentioned lawsuit, the plaintiff demanded that it bear joint and several liability for compensation.
On January 11, Donghai Securities announced that the Chengdu Intermediate People's Court in Sichuan Province accepted the bond dispute case of Donghai Securities v Blu-ray Development on January 10. Blu-ray bonds have not been paid when due, which constitutes a material default. Donghai Securities filed a lawsuit with the Chengdu Intermediate People's Court in Sichuan Province, demanding that Sichuan Blu-ray Company pay a total of RMB118 million in principal, interest and late fees of the bonds.
Editor: Wang Yin
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