TAIPEI, Taiwan - Play Color Co. manager Lu Chung-chi and Juipo International Marketing Co. manager Chou Hung-Wei allegedly transferred all properties out of their names as the New Taipei District Court approved New Taipei City Government's request to freeze their assets, according to prosecutors yesterday.
Huang Yi-teng, chief of the New Taipei City Government's Legal Affairs Department said that sequestration requests to freeze the assets of Play Color Co. manager Lu Chung-chi, Formosa Fun Coast manager Chen Bo-ting and Juipo International Marketing Co. manager Chou Hung-Wei have been filed to the Taiwan Shilin District Court. However, the court approved only the request against Chen.
To prevent Lu and Chou from fraudulent conveyance, or transferring their property to another legal person, the city government decided to file another case of sequestration, instead of appealing against the original, Huang said.
Whether or not Lu and Chou have property entitled under their names, the main goal of the procedure is to make sure that the victims can claim compensation from them, according to Huang. Moreover, he said that the government may not be able to make clear the number of properties currently held by Lu and Chou if the court disapproves the case, and that this may be the way to push the court into approval.
As soon as the city government attorney filed the new case to the Shilin District Court last week, they followed up the procedural request for the execution of sequestration, Huang said. Lawyers requested a freeze of the assets immediately after the court approval, and jurisdiction was received by city government officials yesterday.