Reported about 1 year ago
On July 8, 2024, in the BVI, Long's shareholders including Li Qingliang, Liao Mingze, and Liao Haoqin accused Lia Zhen Duo of infringing shareholder rights and stripping the company's assets in China. The global leading Styrofoam raw material plant Long Institution is facing a renewed ownership dispute, with founder Lia You Zhang's eldest son Lia Zhen Duo filing a lawsuit against mother Lia Huang Xiang in the BVI to revoke her estate management rights. Original shareholders of Long, including Lia's nephew Li Qingliang and nephews Liao Mingze and Liao Haoqin, spoke out against Lia Zhen Duo's alleged embezzlement of Chinese assets, denying the estate dispute among brothers and asserting it was all about Lia Zhen Duo's actions to fight against all shareholders and strip Chinese assets.
Source: YAHOO