You are here
Shanghai Turbo unit awarded compensation in suit against ex-director
SHANGHAI Turbo Enterprises' subsidiary, Changzhou 3D Technological Complete Set Equipment, has been awarded 504,300 yuan (S$97,920) in compensation in a legal suit it took out against former Shanghai Turbo executive director Liu Ming and ex-employees.
In August 2017, Changzhou 3D took legal action against Mr Liu and six other ex-employees in China in relation to a dispute over the handover of its factory there. The case was filed in the Zhonglou District People's Court in Changzhou, according to Shanghai Turbo's exchange filing.
Changzhou had sued them for civil trespass and claimed damages - including workers' wages, security guard fees and temporary offsite office rental for employees - amounting to 15.4 million yuan.
On Dec 17, 2019, the Zhonglou District People's Court found Mr Liu and three of the defendants liable to compensate Changzhou 3D for temporary offsite office rental amounting to 72,300 yuan and security guard fees of 432,000 yuan. The four defendants were also ordered to pay court costs amounting to 8,843 yuan.
Changzhou 3D accepted the court's decision, citing "continued impact to the business caused by prolonged litigation and uncertain judicial outcome in an appeal". It has spent about 1.03 million yuan in legal expenses to date.
The four defendants have until Jan 1 to file an appeal, and within 10 days thereon to pay the compensation.
Changzhou 3D said it will update shareholders on progress in relation to the Chinese court's judgment.