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Wu Changjiang’s wife will assume 34 million loan debts
NVC Lighting, which has been suspended since August last year, announced that the company has obtained a complaint from the finance company to the Chongqing court, requesting the former chairman Wu Changjiang’s spouse Wu Lian to repay 34 million yuan (the same below) plus a penalty interest. The complaint continues, Wu Changjiang, NVC China and two other entities should act as guarantors to jointly assume that Wu Lian is responsible for the above obligations to the finance company. In addition, the company obtained a so-called guarantee agreement from the court, which seems to be concluded by Wu Changjiang on behalf of NVC China, providing guarantee for Wu Lian’s loan obligation of 40 million yuan in the highest credit amount; another case called NVC China The shareholder resolution approves the above guarantee. The so-called shareholder agreement appears to be stamped with the seal of the company affiliated with Hong Kong NVC Lighting Co., Ltd., but the board of directors stressed that it is not aware of the so-called guarantee agreement, the so-called shareholder resolution or the relevant loan granted to Wu Lian, and is not aware of NVC China. It is alleged to involve this seemingly financing arrangement. The company is seeking legal advice on the complaint and the impact of so-called guarantees and so-called shareholder resolutions.