Chinese Builders Take Guo Wengui to U.S. Court Over Alleged Unpaid Bills
(Beijing) — Nine Chinese onshore construction companies took the fugitive tycoon Guo Wengui to a U.S. court, seeking 272 million yuan ($40 million) over alleged unpaid bills, according to a court filing seen by Caixin.
The lawsuit was filed collectively by those nine companies in the New York state Supreme Court on Friday, the filing shows. Defendants include Guo and four units he controls.
This is the latest dispute brought forward by Guo’s business partners. Guo, 50, was listed by Hurun Wealth Report as the 74th-richest Chinese in 2014, with 15.5 billion yuan in personal assets. He is believed to be living in the U.S. after he fled China in 2014 to avoid graft investigations that brought down his close ally Ma Jian, the disgraced former vice minister of state security. Interpol has issued a “red notice” on Guo, China’s Ministry of Foreign Affairs has said.
In the 38-page filing, the nine companies said Guo and his companies allegedly failed to pay in full on two construction projects in Beijing — Morgan Plaza, also known as Pangu Seven Hotel Beijing, and Jin Quan Squares. These projects were built between 2007 and 2015, it added.
Guo also allegedly “conveyed, transferred, converted, relocated, and removed all of the assets” associated with those two projects to the U.S. to finance his “luxury life” there, the filing said.
Those companies had sued Guo over unpaid bills in Chinese court several times, which ruled against Guo. But they said they were not able to recoup the missing payments from Guo, claiming Guo has moved the related assets abroad, the filing added.
One of the creditor companies is Beijing Fu Le Hong Ma Jian Zhu Zhuang Shi Gong Cheng Ltd. The company’s chief manager, surnamed Zhou, told Caixin the company was involved in both projects mentioned in the lawsuit.
“The contracts of the two projects totaled nearly 20 million yuan,” Zhou said. “Based on our internal calculation, they still owe us more than 10 million yuan. Even based on their calculations, we are still owed 7 million yuan.” Zhou declined to elaborate further.
An executive from another plaintiff company who spoke only on condition of anonymity said: “We’ve been working for (Guo and his companies) for so many years now. The amount they owe us may not be significant to them, but to small company like ours, it really matters.”
Guo, his companies named in the lawsuit, and the seven other plaintiff companies couldn’t be reached for comment.
Contact reporter Dong Tongjian (email@example.com)
Jul 09 19:19
Jul 09 19:10
Jul 09 18:49
Jul 09 16:40
Jul 08 18:10
Jul 08 15:57
Jul 08 13:46
Jul 07 18:50
Jul 07 13:17
Jul 07 04:13
Jul 06 19:37
Jul 06 19:03
Jul 06 14:34
Jul 03 18:31
Jul 03 16:35
- 1China Is About to Run Out of Places to Store Crude Oil
- 2Tencent’s PUBG Mobile Game Hits $3 Billion Milestone
- 3Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024
- 4Zoom Investment Grew From Li Ka-shing’s Disgust at Pricey Video Gear, Says His Tech-Savvy Companion
- 5After Surviving Ouster Attempt, Chairman of Luckin Looks to Cleanse Board
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas