On February 23, 2025, “The Way of Innovation and Development of Professional Services and the Awarding Ceremony of 2024 Benchmark Cases of Law Society” was held, and King&Capital won two 2024 Benchmark Cases with the project of “Fraud case of Wang Mou, the legal representative of a private enterprise in Xinjiang” and the project of “Overseas investment subsidiary of a construction engineering state-owned enterprise in hydropower projects in countries along the Belt and Road”. “construction engineering state-owned enterprises overseas investment subsidiaries in the ”Belt and Road“ along the country's hydropower projects” project won two 2024 Benchmark Cases
"A private enterprise in Xinjiang, the legal representative of Wang Mou fraud case “
Liang Yali
Project Introduction
In 2011, Xinjiang Production and Construction Corps Agricultural Twelfth Division State-owned Assets Management Limited Liability Company (hereinafter referred to as ”State-owned Assets Company") and Wang Junjie actual control of Xinjiang Tianrui Continuous Casting Special Steel (Group) Co. (hereinafter referred to as “ Tianrui Group ”) for the acquisition of equity, the two sides agreed to Tianrui Group 51% of the net assets of 1:1 ratio as 51% of the equity purchase price. In this process, the state-owned companies know that Tianrui Group's financial strength is insufficient, but still invested a lot of money and take the initiative to promote the acquisition of equity. Thereafter, the investigating authorities to Wang Junjie inflate the company's strength, improper offsetting of personal and company debts, modify the equipment contract price to inflate the net assets and other facts, that Wang Junjie suspected of contract fraud 80.19 million yuan, job misappropriation 11.7 million yuan, fraud 5.967 million yuan.
Tianrui Group is a local private enterprise, and the state-owned company local funds strong state-owned enterprises. Wang Junjie name of the enterprise launched “an annual output of 1 million tons of continuous casting billets and alloy steel technology reform project” (hereinafter referred to as “technology reform project”) and successfully obtained the record, the state-owned company in order to obtain the development of the project's authority to profit, the Tianrui Group for equity acquisition. The investigating authorities of this case found that several crimes had been committed. The investigating authorities in this case found several crimes, contract fraud focus of controversy between the state-owned enterprises and the Tianrui Group is actually the acquisition of equity or project acquisitions, the two sides of the real purpose of the contract, and can be evaluated as contract fraud; occupation of the focus of controversy is the submission of receipts used to level the accounts of the behavior of Wang Junjie constitutes the occupation of duties; the focus of the controversy of the crime of fraud is the modification of the contract price of the purchase of equipment, and the fraud of the contract price of the purchase of equipment and the fraud of the contract price of the purchase of equipment. Whether there is a causal relationship between the modification of the price of the equipment purchase contract and the inflated net assets, fraudulent transfer of equity.
The case was continued to be defended in the second trial by attorney Yali Liang, and has now been ruled to be remanded for retrial on January 20, 2022, after the second trial was held.
On January 18, 2023, the public hearing of the case again, Liang Yali lawyers from the procedure, facts and other aspects, put forward a targeted, reasonable defense, in many communications, repeated combing of the case, the court finally partially supported the Liang lawyer's defense, the contract fraud, misappropriation of the crime of not prosecuted, only Wang Mou crime of fraud, sentenced to a substantial reduction in the sentence and fines, to achieve a good defense effect. Good defense effect.
“Hydroelectric projects in countries along the Belt and Road”
Zhang Libin
's project introduction
The case involved complex international engineering dispute resolution, covering the negotiation of credit insurance, third-party expert adjudication, and arbitration procedures of Singapore International Arbitration Center (SIAC), which demonstrated the excellent ability of King&Capital in the field of foreign-related dispute resolution. This case involves complex international engineering dispute resolution, covering credit insurance negotiation, third-party expert adjudication and SIAC arbitration procedures, demonstrating Kyoto Law Firm's outstanding ability in foreign-related dispute resolution.
The background of the case originated from a hydropower project invested and constructed by a centralized enterprise in Southeast Asia, which led to a series of complex legal disputes due to the disagreement with the host government over the contract performance under the BOT mode. The Foreign Affairs Department of King&Capital Law Firm formed a professional team to provide the client with integrated and diversified dispute solutions. Through in-depth analysis of the terms and conditions of the international engineering contract, the laws of the host country and international arbitration rules, the team assisted the client in conducting the expert adjudication procedure for the dispute, and subsequently initiated arbitration at the Singapore International Arbitration Center, in an effort to safeguard the client's legitimate rights and interests.
The case not only demonstrated King&Capital's professional strength in the fields of international arbitration and cross-border engineering dispute resolution, but also provided an important legal risk prevention and dispute resolution reference for Chinese enterprises' investment and cooperation in countries along the “Belt and Road”. King&Capital has once again demonstrated its leading position in the field of foreign-related legal services by virtue of its rich experience in foreign-related legal services, internationalized vision and deep understanding of clients' needs.
In the future, King&Capital Law Firm will continue to plough into the field of foreign-related legal services, help Chinese enterprises to “go global”, and provide more high-quality and efficient legal support for the construction of “Belt and Road”.
