DUBIOUS DEADLINE:The Coast Guard Administration said it would cancel a contract with the shipbuilder should it fail to deliver a search-and-rescue vessel by the due date
Taipei Times
Date: Nov 23, 2017
By: Staff writer, with CNA
The Kaohsiung District Court yesterday impounded the headquarters of Ching Fu Group
The headquarters of Kaohsiung-based Ching Fu Group is impounded by the Kaohsiung District Court yesterday. Photo: Taipei Times
(慶富集團) at the request of one of the firm’s lenders amid allegations of a subsidiary’s financial mismanagement and involvement in a fraud scandal related to a navy contract.
The court took provisional legal ownership of the first six floors of the 10-story building on Fuxing Fourth Road and the firm’s partial land ownership of the site, the court said.
The action was taken to protect the rights of those to whom the firm owes money, the court said, adding that despite the impound order, the company’s employees could still freely go to work.
Ching Fu Group spokesman Chi Ching-lung (紀景朧) said the firm remains operational and employees showed up for work yesterday.
Asked about the court’s action, Chi declined to comment, saying that he has limited knowledge of the case. [FULL STORY]
