‘WE ARE PAYING’:KMT’s Chiu Da-chan said he was confident that the bond payment would be accepted, but the Ministry of Finance said the bonds were not legally binding
Taipei Times
Date: Aug 25, 2017
By: Sean Lin / Staff reporter
The Ministry of Finance yesterday rejected the Chinese Nationalist Party’s (KMT)
Chinese Nationalist Party (KMT) Administration and Management Committee director-general Chiu Da-chan speaks at a news conference in Taipei yesterday. Photo: CNA
offer to pay a NT$864.8 million (US$28.6 million) fine imposed by the Ill-gotten Party Assets Settlement Committee with US dollar-denominated bonds issued by the government in 1947.
The party would pay the fine, which has a deadline of today, with US dollar bonds issued by the KMT administration in 1947, KMT Administration and Management Committee director-general Chiu Da-chan (邱大展) said yesterday, adding that the bonds are worth at least NT$38.5 billion at the current exchange rate.
The committee in June fined the KMT in connection with more than 485 properties determined to be ill-gotten, which were partially acquired and expropriated by the KMT in 1947 after the party designated them as “special state-owned properties.”
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