Examples of PRC Court in a sentence
UPPSD filed an objection letter to the PRC Court against the bankruptcy application.
On 1 August 2021, the PRC Court approved the UPPSD Bankruptcy Reorganisation plan with effect on the same day.
As the Company was set up out of the PRC jurisdictions, the Company failed to provide the requested notarised litigation documents to the PRC Court, therefore, the Group has not yet directly received any court order or notice issued under the provisions of applicable law.
On 20 April 2021, the PRC Court approved the conversion of the bankruptcy proceedings of UPPSD into a bankruptcy reorganisation.On 23 April 2021, the UPPSD Bankruptcy Administrator convened the first creditors’ meeting of UPPSD, at which the UPPSD Bankruptcy Administrator had, inter alia, confirmed the claims filed by the creditors against UPPSD.
Therefore, WHM should have the right to claim against the PRC Court for refund of the full amount.
According to the Judgment, the PRC Court overruled its own judgment dated 26 July 2013 and upheld the judgment dated 10 November 2010 granted by Beijing No.1 Intermediate People’s Court in respect of the Litigation.
In short, the PRC Court ruled that both the Sale Contract and the Guarantee Agreement were legally effective.
The PRC Court also ordered that both the Company and Beijing Zhongzheng shall be jointly liable to repay to the Plaintiff the sum of RMB14,529,886 together with interest accrued thereon from 1 July 2002 up to the date of payment.
WHM has already filed a written objection with the PRC Court to challenge against both the judgment and the mandatory execution for the reason that WHM was not a directly related company to WHRED.
On 29 July 2015, the Company received the judgment dated 14 May 2015 (the “Judgment”) granted by the PRC Court in respect of the Litigation.