Reported about 1 year ago
In a recent turn of events, the operating rights dispute of the world's largest Formosa Plastics raw material factory, Seeing Dragon Organization, has reignited as founder Liao Youzhang's eldest son Liao Zhenduo filed a lawsuit in the British Virgin Islands against his mother, accusing her of mismanaging assets and embezzling the organization's Chinese assets. Holder of over NT$ 80 billion in annual revenue, the family feud involves allegations of Liao Zhenduo unilaterally siphoning off millions in assets, prompting original shareholders including relatives and family friends to counter his claims of inheritance disputes and asset stripping, while also expressing hope for amicable resolution for the sake of the company's legacy and stability.
Source: YAHOO