Opinion Network News: On January 20, Qingdao City Investment Financial Holding Group Co., Ltd. issued an announcement disclosing the progress of major litigation related to its subsidiary, Qingdao Jinzhiqiao Investment Management Co., Ltd.
According to the new media, in 2016, Qingdao Construction Engineering Group Co., Ltd. borrowed money from Qingdao Jinzhiqiao, and Qingdao Kaixuan Real Estate Co., Ltd. provided a guarantee guarantee for the loan.
After the loan matured, Qingdao Construction Engineering Group Co., Ltd. returned part of the loan, and the remaining 198 million yuan of principal could not be returned. In 2018, Jinzhiqiao, Triumph Real Estate and the third party signed the "Debt Settlement and Housing For Debt Agreement", agreeing to use 50 houses developed by Triumph Real Estate to cover the above debts.
Triumph Real Estate failed to deliver the house to Jinzhiqiao in accordance with the housing payment agreement, and Jinzhiqiao filed a lawsuit with the Qingdao Intermediate People's Court, demanding that the 50 houses of Kaixuan Real Estate pay off the debt with housing be owned by Jinzhiqiao.
The case was heard on August 27, 2019 On July 15, 2020, the Qingdao Intermediate People's Court rendered the (2019) Lu 02 Min Chu No. 1279 First Instance Ruling, finding that The conduct of Kaixuan Real Estate Company was suspected of being a crime and dismissing the prosecution.
On July 20, 2020, Jin Zhiqiao appealed to the Shandong Provincial High People's Court. On December 7, 2020, the Higher People's Court of Shandong Province rendered the (2020) Lu Min Zhong No. 2874 Final Ruling, rejecting Jin Zhiqiao's appeal and upholding the first-instance ruling.
Jin Zhiqiao was not satisfied with the above ruling and applied to the Supreme People's Court for a retrial. On October 26, 2021, the Supreme People's Court rendered the (2021) SPC Minshen No. 3475 Civil Ruling for arraignment of the case, and the Supreme People's Court formed a collegial panel to hear the case in accordance with law.
After trial, due to the improper application of law in the original ruling to reject Jinzhiqiao's lawsuit, the Supreme People's Court corrected it and made the following ruling:
1. Revoke the Civil Ruling No. 2874 of the Higher People's Court of Shandong Province (2020) Lu Min Zhong and the Civil Ruling Of the Intermediate People's Court of Qingdao City, Shandong Province (2019) Lu 02 Min Chu No. 1279. 2. Instruct the Intermediate People's Court of Qingdao Municipality, Shandong Province, to hear the case.
This article originated from the viewpoint real estate network
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