Reported about 1 year ago
The ongoing dispute over the management rights of the world's largest melamine raw material factory, Verly Dragon Institution, founded by Liao Youzhang, has escalated as his eldest son Liao Zhenduo sues his 92-year-old mother, Liao Huangxiang, in the British Virgin Islands. The lawsuit, set to be decided soon, is crucial for the ownership of the Verly Dragon Institution. The structure of the company reveals the core of the dispute lies in the ownership of the Chinese entity LIE. After Liao Youzhang passed away, conflicts arose over the management of the company, leading to allegations of asset stripping by Liao Zhenduo within the Chinese assets. This legal battle will determine the fate of the $80 billion empire.
Source: YAHOO