Bermuda court rules for Liaoning
( 2004-01-19 23:34) (China Daily)
A high-profile lawsuit instigated in Bermuda by Yang Rong, former board chairman of Brilliance Group, was turned down by that country's Supreme Court.
In the suit, Yang sought State assets held by Brilliance China Automotive Holdings Ltd (CBA), Chinese Financial Education Development Foundation and Huachen Automotive Group Holding Company Ltd.
The Supreme Court of Bermuda rejected his claim on December 31, 2003, Xinhua reported on Monday.
Yang sued on behalf of Broadsino Finance Company Ltd. He claimed Broadsino was the legitimate owner of CBA and that its shares had been unlawfully expropriated by Northeast China's Liaoning provincial government.
However, in throwing out the suit, the Supreme Court of Bermuda said "the plaintiff never owned any shares" of CBA.
According to the Liaoning provincial government, Yang, former board chairman of the Brilliance Group, was not a private entrepreneur, but an agent entrusted by the government to run the State-owned factory.
According to the Xinhua report, Bermuda's Justice Philip Storr said it would be an "abuse of the process of the court" to pursue the claim.
Lawyers and legal experts in China who have been following the case said Yang could still appeal the ruling, but would be unlikely to win.
"His claim against Chinese assets has been destroyed by the Supreme Court of Bermuda," Xinhua quoted an anonymous Chinese lawyer as saying.
The Liaoning government could not be reached for comment.
Last August, a US court in Washington agreed to handle another lawsuit filed by Yang against the provincial government of Liaoning.
Liaoning Province took over the Brilliance Group's State-owned assets in March 2002 according to relevant State documents.
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