QIANGGUO LAW FIRM（英）

Q&G LAW FIRM WARSAW OFFICE OPENED FOR BUSINESS

Mon, 06 Mar 2023 01:53:29 -0800

5/3, QIANG GUO Lawfirm Warsaw reprenstative office opened for business, it hereby will focus on the services on the cross-border M &A\FDI ,etc.

W. Frienze Q&G lawfirm representative

Alex .lee Q&G lawfirm representative

District：Mroków

Zip code：05-552

Street： ul. Marii Swiatkiewicz 51.

Adress：CH European lok. 54 A

City：Warsaw,

Nation：Poland

The addressee：zhong lin

Tel：+48 728498381

Qiangguo law firm represented the first case of Suning Tesco bankruptcy liquidation

Wed, 06 Jul 2022 05:07:00 -0700

On July 4, Qiangguo Law Firm, represented two suppliers to file suning's bankruptcy liquidation application to the Nanjing Intermediate People's Court of Jiangsu province PRC, which caused a great stir. The incident attracted wide attention from the media and topped the top 10 hot searches.

Affected by the news, Suning's share price fell by the daily limit on the same day, equally 5%! and Suning quickly contacted suppliers to emergency talk. Thereafter negotiation Suning took the initiative to fulfill all the debts, the supplier agreed to withdraw the application.

This is the first case of Suning Tesco bankruptcy review, although the market before many rumors of Suning bankruptcy, but mostly for the grapevine news, and as a formal judicial procedure, this is the first case.

After receiving the payment, the supplier expressed his gratitude to Qiangguo Law Firm for his effective work. But for this firm, there are still more similar cases to be resolved.

TBII：ST SUNING with 3-5% operating gross profit to correspond to 18% overdue interest rate is to take investors' money as a joke

Thu, 05 May 2022 05:01:33 -0700

On May 5, Suning suspended, and after the resumption of trading on May 6, Suning will officially change its name: "ST". After being ST, Suning's financing ability will deteriorate further, first, public funds will be forced to clear, and then seriously affect the bank credit evaluation.What's more, the company also faces billions of arrears of 18% annualized punitive overdue interest payments to micro, small, and medium-sized enterprises. Lawyers already filed the applicaiton of 18% overdated rate and accepted by the people court. According to Article 15 of the Regulations on the Protection of Payment for Small and Medium-sized Enterprises, " Government offices and public institutions and large enterprises shall delay the payment of small, medium and micro enterprises, and shall pay overdue interest.If the parties have an agreement on the overdue interest, they agree that the interest shall not be lower than the market quoted rate of the one-year loan concluded by the contract, and the overdue interest shall be paid by 5 / 10,000 at the daily interest rate."Suning has not signed written contracts with many small and medium-sized suppliers, and many suppliers with contracts have no agreed interest, a large part of which meet the daily interest of 50.000, which is 18%, which can be a punitive interest rate. The 18% punitive interest rate is the accompanying debt of the stock liabilities, and it is the incremental debt. Whether it is economic depends on the current level of receivables and financing costs of Suning.According to the annual report of Suning Tesco, the gross profit of its main business in 2021 is 2.58%, the gross profit of other businesses is 4.36%, and the comprehensive gross profit rate is 6.94%. The net profit is even less or even negative, unable to bear the punitive interest rate of 18%.From the financing cost, 18% is also Suning cannot afford. More importantly, a considerable proportion of the funds were taken to litigation preservation...Read More

GOBAL TIMES：lawyer urges police to pobe HSBC for alleged role in Meng Wanzhou arrest

Mon, 10 Dec 2018 05:28:00 -0800

A Chinese lawyer has urged Shanghai police to investigate the alleged illegal role of a Chinese subsidiary of UK-based banking giant HSBC in the arrest in Canada of Meng Wanzhou, chief financial officer of China's Huawei.Lawyer Li Mingqiang said in a public letter to the Shanghai police on Monday that HSBC Bank (China) Co Ltd, an HSBC subsidiary, had exposed Huawei trade secrets and breached a convention that a China-registered business entity should first report any suspected wrongdoings by its clients to Chinese authorities, instead of foreign ones.Li said in the letter that information revealed to public so far clearly shows that HSBC has disclosed, on its own initiative, trade secrets belonging to Huawei, the bank's client, to foreign governments. According to a story in the Wall Street Journal, a monitor appointed by the US government to oversee HSBC's anti money-laundering controls flagged "illicit transactions" made by Huawei at the bank and shared them with New York prosecutors. That led to the arrest of Meng.

In an exclusive interview with the Global Times, Li, who declined to identify the firm where he practices law, said he has no personal affiliation with Huawei and is neutral toward the firm.

"I raised the issue with Shanghai police as the Shanghai-based HSBC subsidiary could have assisted HSBC units in the US and provided Huawei's information to the US government, which would be a direct breach of Chinese law," Li said Monday.

As a bank, HSBC is obliged to protect Huawei's business information, and should not disclose Huawei's information to any third party without the request of Chinese prosecutors or other effective administrative orders issued in China, said Li in his public statement on WeChat, which had been deleted as of press time.Li said that nonetheless, his whistle-blowing letter, which he sent using his real name, should have already been received by Shanghai police, both through his WeChat statement and his direct...Read More