China won't recognize civil law of NZ. Furthermore, Yan is a nominee of the Chinese state enterprise. Do you think the Chinese Court will recognize NZ judgment? (under the close watch of the Party).
There is no mutual enforcement of judgment signed between NZ and China (Treaty). So, it is dreaming for NZ to think they can get Yan personally.
Before the Chinese government bought up Mainzeal, it was near collapsed, they should be thankful now rather than still wanting to milk some more money.
作者: bungyjumping999 时间: 2019-9-26 17:30:05
本帖最后由 bungyjumping999 于 2019-9-26 16:36 编辑
anzac_corp 发表于 2019-9-26 13:21
老賴啊
前面有報道説他剛好有縂價18m的兩個物業在新西蘭,拍賣掉夠了
These properties are untouchable, it belong to the trust. Yan and family only has the right to stay, do not own it technically.
In another word, this is only paper judgment, worth nothing in real term. Only the media get excited. 作者: wellington2005 时间: 2019-9-26 17:43:40
There is a professional indemnity insurance for Independent directors in the case of Public listed Company. the company has to pay a high premium.
The insurance covers unintended mistakes, negligence etc. They are lucky this time that the insurance is willing to step in, may be because there was ex-prime minister involved.
Yan is not independent, he is an executive director.
The liquidators sued all the directors for reckless trading causing losses. This is a difficult case to prove, but they proved it in the sense that while the Company was near insolvency, they continued trading and making people think they are solvent therefore reckless and incur a lot of debts during that period.
What sink this company was some unprofitable projects and some leaky projects, that came back to bite them.
作者: sdpapet 时间: 2019-9-26 18:45:13
bungyjumping999 发表于 2019-9-26 17:41
There is a professional indemnity insurance for Independent directors in the case of Public listed ...
not as simple as that. Yan is not qualified for that insurance as he is not independent, he has a vested interest in the company, shareholder as well.作者: 匿名 时间: 2019-9-26 18:50:52