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Tag Archives: beyond business scope

Why Chinese Court Ruled that KPMG’s Takeover Constituted Infringement against Wahaha?

Posted on November 18, 2013 by yytbest

Danone established a joint venture company with the Wahaha Group in 1996, with a 51 percent ownership stake of stock in the company. In addition to this joint venture company, the Wahaha Group also operated several separate non-Wahaha joint ventures. In 2007, Danone attempted to offer four billion Yuan to purchase 51 percent of the shares of all non-Wahaha joint ventures, but this offer was rejected. Subsequently, Danone was involved in a series of complex litigation against the Wahaha group in a number of jurisdictions.

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Posted in Corporation, Litigation, Operation, Structuring | Tagged article 281 of the Civil Procedure Law, beyond business scope, business reputation, BVI, change legal representative, China judicial sovereignty, compensate for loss, compulsory measures, control of bank account, control the meeting of shareholder, core asset, Danone, Danone-Wahaha joint venture Company, eliminate the effect of infringement, enforcement measures, enforcement of ruling made by a foreign court, Ever Maple Trading Ltd, financial seal, freeze bank account, Hangzhou Wahaha Group, Huang Zhenni, infringement, Jannie Wong, Kelly, KPMG, KPMG China, legal representative, legal representative replacement, make an apology, non-Wahaha joint ventures, official stamp, offshore company, restore reputation, restrict shares transferring, shareholders meeting, Stockholm arbitration, stop infringement, Suqian Wahaha, take over asset, takeover order, the Higher Court of Jiangsu Province, the higher court of the British Virgin Islands, Wahaha, Zong Fuli, Zong Qinghou | Leave a reply
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