MOF contests High Court’s CHB ruling

ON DEAF EARS:The court did not take into account testimony from policymakers who were there in 2005, National Treasury Administration Director-General Frank Juan said

Taipei Times
Date: Jun 13, 2017
By: Crystal Hsu / Staff reporter

The Ministry of Finance yesterday filed an appeal to contest a High Court ruling over the Chang Hwa Commercial Bank (CHB, 彰銀) management rights dispute, saying the ruling is legally unsavory and fails to recognize the testimony of crucial witnesses.

The move has made reconciliation between the ministry and Taishin Financial Holding Co (台新金) unlikely ahead of CHB’s board elections on Friday.

The court’s argument over the existence of a contractual relationship between the ministry and Taishin Financial ran counter to facts and a legislative resolution that bars state-controlled shares from backing non-government stakes, Deputy Minister of Finance Su Jain-rong (蘇建榮) said.

The ministry has faithfully complied with the resolution and has never supported Taishin Financial in CHB board member elections, Su said.    [FULL  STORY]

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