Sep 24, 2021 11:01 AM (GMT+8) · EqualOcean
The Zhejiang high court recently made the final judgment of the Wuyang debt case, and the original judgment was upheld in the second instance, that is, Chen Zhizhang, chairman of Wuyang construction, Debang securities and Daxin certified public accountants assumed the joint and several liability for the debt principal and interest of 487 natural person investors totaling 740 million yuan, Jintiancheng law firm and Dagong international credit rating Co., Ltd. shall be jointly and severally liable for the above debts within the range of 5% and 10% respectively. Wuyang bond case is the first case of fraudulent issuance of corporate bonds in China, and it is also the first case to be tried by the representative litigation system in the field of securities disputes in China.