Yida Zhang, a Chinese investor from Yida International Ltd, is pressured to settle a payment exceeding $400,000 to Lux Locations within a month for services related to a land sale in 2014.
This stems from a decade-old dispute where Lux Locations sought a $3 million commission, leading to a legal battle that reached London’s Privy Council.
Due to Zhang’s non-compliance, the High Court allowed Lux Locations to sell Zhang’s shares and imposed restrictions. Despite a contempt warning and a court summons, Zhang wired a payment just before a hearing.
However, disputes over the amount persisted, and an agreement was reached. The court ruled that if the full payment did not reflect in Lux Locations’ account by November 24, Zhang would face 14 days in prison, with further imprisonment if the remaining balance wasn’t settled by December 31.
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