“Five foreign debts” settled?The second instance upholds the original verdict, the intermediary agency said to study whether to apply for retrial

September 24, Beijing NewsshellFinancial reporters learned from intermediary agencies that the country’s first case of fraudulent issuance of corporate bonds, the “Wuyang Bond”, was finalized and the court upheld the original verdict.

In response to the verdict, a relevant person from Debon Securities, one of the second-instance appellants, told reporters that the second-instance judgment is final. As for whether it will continue to apply to the Supreme People’s Court for a retrial, the company is still actively studying and determining countermeasures. At present, the company’s various operations are normal, and the second-instance judgment will not affect the company’s normal operation.

It is worth noting that the original judgment was upheld in the second instance, but the three parties that bear all the joint liability for the principal and interest of the investor’s debt, Chen Zhizhang, the actual controller of Wuyang Construction, the underwriter Debon Securities, and the auditing agency Daxin Certified Public Accountants, have not yet done so. A further division of responsibilities. The industry predicts that the three parties may further determine their final share ratio through legal channels.

(Article Source:shellFinance)

Article source: Shell Finance

Editor in charge: DF526

Original title: “Wuyang Debt” Is the Dust Settled?The original verdict was upheld in the second instance, and the intermediary said it was studying whether to apply for a retrial