Replies to post #13347 on First China Pharmaceutical Group Inc (fka FCPG)

[VeryHolyGuy]

The cash didn't go anywhere. It is still safely parked in one of Guo's accounts in China where it has always been. And that is where it will remain. You as a foreigner have no rights to it. China protects its own! Unlike the U. S. ~Quote

I received a check for $272.15 today. ~Quote

Read about Duoyuan Global Water Inc. After years of litigation a settlement was proposed. The cutoff date was April 2011, that is that last date that you could hold shares and receive part of the settlement. The shareholders have been receiving checks which were issued out earlier this year. The Company made some $88 million dollars after selling stock from the IPO. The company had somewhere in the neighborhood of $150 in cash with liabilities in the neighborhood of $50million. Assets amounted to well over $100 million after liabilities. Last, they are HIGHLY PROFITABLE.

After nearly 4 years of fighting, the settlement was made and broken up which amounted to around $4 million. Minus $2M for the lawyers and 10.4 cents per share for the shareholders.

The settlement makes clear why. Because USA has no legal rights within China.

With FCPG, there is little to no cash, little to no assets, just debt/liabilities. By the time a year would have passed the lawyers fees will nullify all settlements for shareholders.

With the new Chinese laws in place now, it is impossible to win a case in China now.

Zhen Wang knew this, and you know the rest of the story.

All IMHO.