The Sellers (Liu Fakuan) Assets are still underlying an ASSET FREEZE since 2017 according to the latetest and renewed court ruling from May 15, 2020
Intermediate People's Court of Wuhan City, Hubei Province
Execution ruling
(2017) E 01 Zhi 203 No. 4
The applicant is BBCAsiaCompany4Limited, domiciled in the Republic of Mauritius, Suite110, 10thFloor, EbeneHeightsBuiding, 34EbeneCybercity, Ebene, RepublicofMauritius.
The legal representative HeerdayeJugbandhan.
The executor, Hubei Haihong Fuel Group Co., Ltd., is located at No. 188, Donghu Road, Wuchang District, Wuhan City, Hubei Province.
The legal representative Chen Yuhai is the chairman of the company. The person being executed is Henan Wandi Mineral Products Development Co., Ltd., whose domicile is Shanggou Village, Mojie Township, Yuzhou City, Henan Province.
Legal representative Liu Fakuan is the chairman of the company.
The executor Chen Yuhai, male, Han nationality, was born on January 19, 1963 and lives in Yicheng City, Hubei Province.
The executor Ye Hong, female, Han nationality, was born on June 17, 1961 and lives in Yicheng City, Hubei Province.
Rui En Asia No. 4 Co., Ltd. (formerly China Construction Bank Co., Ltd. Wuhan Jiang'an Sub-branch, changed to China Huarong Asset Management Co., Ltd. Hubei Branch in the implementation process), Hubei Haihong Fuel Group Co., Ltd., Henan Wan In the case of Di Minerals Development Co., Ltd., Chen Yuhai and Ye Hong’s financial loan contract dispute, this court issued an enforcement notice to the person subject to enforcement based on the legally effective (2015) E Wuhan Zhongmin Shang Chu Zi No. 00790 judgment , Ordered it to perform the obligations determined in the judgment, but the person subject to execution has not yet performed it.
Execution
During the execution, it was found that before the lawsuit, this court had frozen the equity held by the person subject to execution with the (2015) E Wuhan Libao Zi No. 00346 Civil Ruling, and then executed the ruling with (2017) E 01 Zhi No. 203 in the execution procedure The book continued to freeze the above-mentioned equity. The current period expires in accordance with Articles 243 and 244 of the Civil Procedure Law of the People’s Republic of China and the 480th Interpretation of the Supreme People’s Court on the Application of the Civil Procedure Law of the People’s Republic of China. Article 7. According to Article 36 of the Provisions of the Supreme People's Court on Several Issues Concerning the Enforcement of People's Courts (for Trial Implementation), the ruling is as follows:
1. Continue to freeze the 5 million yuan equity of Hubei Haihong Xiangguaqua Ecological Agricultural Technology Co., Ltd. held by the executor Hubei Haihong Fuel Group Co., Ltd.;
2. Continue to freeze the 20 million yuan equity of Guodian Changyuan Henan Coal Industry Co., Ltd. held by the executor Hubei Haihong Fuel Group Co., Ltd.;
3. Continue to freeze the 4.9 million shares of Yuzhou Shenhuo Kuanfa Mining Co., Ltd. held by Henan Wandi Mineral Products Development Co., Ltd. held by the executor;
4. The period of continued freezing is three years.
If it is necessary to renew the freezing, a written application for the renewal of the freezing shall be submitted to this court within 30 days before the expiration of the freezing period; after fulfilling the obligations, an application can be made to lift the freezing.
This ruling becomes legally effective after it is served.
This is "REPORT ON EVALUATION AND CONSULTATION OF MINING RIGHT OF HENAN WANDI MINERAL PRODUCT DEVELOPMENT COMPANY, LTD." mentioned in the 8K.
"The estimated recoverable reserves of the whole area are 764,800 tons, and the recoverable reserves of 228,700 tons that need to be collected from the transfer income. The comprehensive mining loss rate of the mine is 20%, the production scale is 150,000 tons/year, the total service life of the mine is 3.64 years, and the transfer income service is required. The period is 1.08 years, and the evaluated product plan is raw coal. The product does not include tax at a sales price of 470 yuan/ton, the mining rights equity coefficient is 3.9%, and the discount rate is 8%."
There is no mention of 24 million tons as claimend by SGCI/Phoenix/RSSV!
