ZKenergy Wins Lawsuit Against Wuxi Suntech in First Trial
Comunicato Precedente
Comunicato Successivo
The Jiangsu Province Higher People's Court entered the first-trial judgment as follows: "1. Wuxi Suntech is to restitute the payment totaling 206 million RMB within 10 days of the judgment going into effect, as well as pay interest and penalties due to the breach of the agreement (from March 31, 2014 to December 31, 2014, with the interest calculated on the basis of the benchmark lending rate set by The People's Bank of China for the same period and the principal of 206 million RMB; from January 1, 2015 to the actual date of payment, with interest and penalties calculated on the basis of four times the benchmark lending rate set by The People's Bank of China for the same period and the principal of 206 million RMB. However, interest and penalties calculated based on this criterion shall not exceed 30.9 million RMB; and, in the event interest and penalties exceed 30.9 million RMB, from the date when they start to exceed this amount to the actual date of payment, interest and penalties are to be calculated based on the benchmark lending rate set by The People's Bank of China for the same period and the principal of 206 million RMB. 2. Reject ZKenergy's other claims. 3. Reject Wuxi Suntech's counterclaims."
Shunfeng International Clean Energy Limited (HK01165, formerly and until
November 2014 "Shunfeng Photovoltaic International") acquired a controlling stake in Wuxi Suntech in 2014 from Suntech Power Holdings (NYSE: STP, "Suntech Power"). Shunfeng International Clean Energy, listed in
Hong Kong on July 13, 2011, is a manufacturer of solar wafers, cells and modules.
Link to the case judgment: http://www.zkenergy.com/news/zknews/653.html
About ZKenergy
ZKenergy Science & Technology Co., Ltd is a high-tech company that specializes in the development, manufacturing and application of products in the clean energy field and supplies turnkey solutions and core parts for small-and medium-sized wind and solar integrated application systems.
For more information, please visit: www.zkenergy.com.
