Reporter of the Economic Business: Zhao Linan Reporter of the Economic Business Business: Wei Guanhong
"At the most, I owed more than 400 workers' wages, more than 2 million yuan, and owed more than 1 million yuan to the material dealer." Chen Changjian said that he was one of the contractors of the Xiamen Xiangshan Yacht Project, mainly responsible for the interior decoration of the yacht club club.
Xiamen Xiangshan Yacht Project is located in Xiangshan Wind Sands in the east of Xiamen Island. It is located in the coastal tourist area. It has beautiful beaches and is across the sea from Little Golden Gate Island. Many media have reported that it will be built into Asia's largest yacht club.
But the reporter of " Daily Economic News " recently saw at the project site that the gate of the "Yacht Club" has been sealed with fences and wooden boards and is not allowed to enter. The yacht berths are also vacant, and there are only a few ships inside the huge yacht club, and a few of them are still parked on the grass.
htmlFor more than 0 years, behind this sunshine, beach and waves, there is actually a arena for the game of capital from all walks of life.Since its construction in 2005, the Xiangshan Yacht Project has been constructed and constructed all the way. 16 years have passed, and financial institutions and project parties related to the project have also appeared like a lantern.
. Contractors, material manufacturers, private lenders, villas and berth buyers who are in a vulnerable position... These "small and medium-sized creditors" have become victims in the process of project interest game. Many people represented by Chen Changjian have been suppressed by debts to "no temper".
Xiangshan Yacht Club’s main entrance is closed. Photo source: Reporter Zhao Linan of Meike. Photo by
Yachts that can only enter and exit when the tide is rising
"Our idea is to reorganize the project. Creditors can occupy a part of the equity , so that the project can develop slowly." Chen Changjian told the reporter of "Daily Economic News".
Chen Changjian is unwilling to let the Xiangshan Yacht Project repay the debt through bankruptcy liquidation. As a contractor, he is the last priority for the debt repayment. If bankruptcy liquidation is carried out, more than 30 million yuan of project funds may be completely lost.
The renovation project construction contract between Chen Changjian Company and Xiangshan Company Image source: Photo provided by the interviewee
The Xiangshan yacht project that puts Chen Changjian in an embarrassing situation will start from 16 years ago.
On August 8, 2005, the land used in the Xiangshan Yacht Project in Xiamen was "decided" on this "geely" date, and Nanshun Holdings (Hong Kong) Co., Ltd. (hereinafter referred to as Nanshun Holdings) won the land for 323.9 million yuan.
In addition to paying the land transfer fee, the buyer must transfer the 320 million yuan deposit of land construction project formed by the slope breaking embankment, bank protection, high pile platform and land area to the monitoring account jointly designated by the Municipal Finance Bureau and the Land and Resources and Real Estate Administration within 4 months after winning the land use rights.
Xiangshan Yacht Land Transfer Contract (part) Image source: Photo provided by the interviewee
These rules and regulations may have been doomed to have uneven development of the project from the beginning.
A year later, Nanshun Holdings withdrew from the project construction , and the takeover was Fang Dongluo, the former actual controller of Xiangshan International Yacht Club (Xiamen) Co., Ltd. (hereinafter referred to as Xiangshan Company). There is very little information about Fang Dongluo on the Internet. According to the interviewees, Fang Dongluo started out in civil engineering contracting.
Since 2005, the Xiangshan yacht project has been reclamation and land reclamation, and the filling work of the sea area was not completed until 2008. According to multiple media reports, around 2010, the first phase of the Xiangshan Yacht Project was completed and more than 300 berths were completed. But the door is still closed and the business has not been opened. Some respondents said that Xiangshan Company did not give a reasonable explanation.
"The berth has not been handed over to the owner and cannot be used normally. (The channel) silt has accumulated, no one has cleaned it up after it is unfinished, and the yacht ships can only enter and exit when the tide is high. The wooden plank road in the berth has been long and no one has managed it, and most of them are broken." Chen Changjian told the reporter of "Daily Economic News".
The original actual controller is involved in illegal fundraising
According to media reports, in 2011, China Construction Bank sold the loan package for the Xiangshan yacht project to China Cinda Asset Management Co., Ltd. (hereinafter referred to as China Cinda; stock code: 01359, HK).When it was sold, CCB had listed the development loan of the Xiangshan yacht project as a "secondary category".
China Cinda's intervention has given the Xiangshan yacht project a sign of resurrection, and Chen Changjian and most contractors have also begun to undertake the construction of the Xiangshan yacht project after that.
However, good times didn't last long. In 2014, Fujian Law Firm issued a statement saying that Xiangshan Company owed China Cinda and China Jingu International Trust Co., Ltd. (a subsidiary of China Cinda, hereinafter referred to as Jingu Trust) with a total debt of approximately 1.82 billion yuan, and plans to apply to the court to apply for bankruptcy liquidation of Xiangshan Company or to force the disposal of the mortgage.
The above debt dispute also led to Fang Dongluo's "illegal fundraising case".
According to the first-instance criminal judgment of Fang Dongluo's illegal fundraising case, the public prosecution agency accused Fang Dongluo and others of 87 unqualified social deposits from 2005 to 2014, without the approval of the financial regulatory agency and unqualified to engage in the absorption of public deposits, through the delivery of leaflets, "mouthed word", introductions from acquaintances, and using the defendant Xiangshan Company and other companies actually controlled by them as borrowers, to absorb funds from 87 unspecified social objects by repaying principal and interest and not having the real content of real estate sales, and to use the defendant Xiangshan Company and other companies actually controlled by them as borrowers. According to statistics, the defendant Xiangshan Company and the defendants Fang Dongluo and Chen Lingxia have absorbed a total of approximately RMB 1.75 billion.
The court sentenced the defendant Fang Dongluo to the first instance for illegally absorbing public deposits in , sentenced him to to for three years in prison, suspended for five years, and fined RMB 300,000. The reporter did not check the second instance related documents for the case on the judgment document website.
"Daily Economic News" reporter tried to contact Fang Dongluo and called another company under his name that it was still alive - Xiamen Dajia Group Co., Ltd., but he was unable to contact the other party.
htmlOn April 21, the reporter came to the registration place of the above-mentioned company - Room 1402, No. 158, Douxi Road, Siming District, Xiamen City. But the door was locked and covered in dust, and it was obvious that no one had entered or left here for a long time.Xiamen Dajia Group Co., Ltd. Registration location, the scene was covered with dust. Photo source: reporter Zhao Linan of Meike.
According to Chen Changjian, at the end of 2017, China Cinda and Jingu Trust auctioned the debts held against Xiangshan Company through Taobao auction, and finally sold for 2.83991 billion yuan. The buyer was Guangdong Jinheng Asset Management Co., Ltd. (hereinafter referred to as Guangdong Jinheng).
Qixinbao shows that the controlling shareholder of Guangdong Jinheng is Guomin Trust Co., Ltd. The reporter contacted its industrial and commercial registration number and found that the phone was consistent with the phone number of Liu Shaohong, the legal representative of Xiangshan Company.
Equity transfer matter is in dispute again
After ten years, Fang Dongluo withdrew and Xiangshan Company once again welcomed a new owner.
Industrial and commercial data shows that South Asia Group (Hong Kong) Co., Ltd. (hereinafter referred to as South Asia Company) has always been the sole shareholder of Xiangshan Company. According to Chen Changjian, the equity of South Asia Company is held by Jingu Trust 51%, while the other two shareholders hold 34% and 15% of shares respectively.
Chen Changjian said that after Fang Dongluo borrowed money from China Cinda and Jingu Trust, he mortgaged 51% of the equity of South Asia Company to Jingu Trust. After Jingu Trust auctioned the Xiangshan Company's debt rights, it also transferred the 51% equity. Fang Dongluo believes that the disposal of 51% of the equity of South Asia Company is not legal, so he applied to the district court for freezing of the equity of South Asia Company, etc., but in the end, Fang Dongluo did not win the lawsuit.
According to a statement released by South Asia Company and Xiangshan Company on Xiamen Daily on July 20, 2020, South Asia Group made a board resolution to remove Chen Lingxia from the director, chairman and legal representative of Xiangshan Yacht Company; remove Fang Dongluo from the position of general manager of Xiangshan Yacht Company; and require the engraving of Xiangshan Yacht Company's new official seal, financial special seal, and contract special seal. On May 13, 2020, Xiangshan Yacht Company completed the registration of the legal representative change and the announcement of the changes of general manager and directors on Xiamen Market Supervision and Administration Bureau.
Image source: Interviewee provides
Xiangshan Company said: "From August 23, 2018 to May 25, 2020, if there is any use of the official seal of Xiangshan Yacht Company number '3502000009897', it is not the true intention of Xiangshan Yacht Company. The documents stamped with the official seal are illegal and invalid documents."
Chen Changjian told reporters that it is currently Guangdong Jinheng who took over Xiangshan Company. After taking over, Guangdong Jinheng has been clearing the silt in the waterway, and the project has not made any substantial progress.
was called by the big speaker and not to repay the debt
"From 2016 to 2017, the steel bar boss came to my house to ask me for money again, but I really couldn't afford it, and the negotiations were not successful. He asked the debt collection company to use the big speaker downstairs to shout that Xue Weixiong would not repay the debt, and kicked the door, which made my family uneasy and internal and external troubles. If it weren't for the child's young, I would have even had the desire to die, which lasted for several months. Later, I called to harass me every day, and continued until the steel bar boss found a court to enforce it, investigating my asset status and bank card information. Because I was unable to repay, I was detained for fifteen days in my life for the first time." Another creditor, Xue Weixiong, who had a similar experience to Chen Changjian, said.
Xue Weixiong entered Xiangshan Yacht Wharf in 2011, and completed more than 20 large and small sporadic projects such as east bank protection platform picking, display center ground, No. 8 fire passage, embankment slope protection, sinking square ground, sinking square stairs, etc.
Some ships parked on the grass in the Xiangshan yacht project. Photo source: Zhao Linan, reporter of Meike,
"I can't stand it anymore, so I can only let all teams leave the venue. I asked them (Xiangshan Company) to compensate me for my losses many times, but there was no result. I couldn't stand it. I returned the remaining 60 tons of steel bars to the steel bar boss first, and brought it back when the construction started. At that time, I still owed the steel bar boss more than 600,000 yuan, and urged me to ask for money every day. I also went to Xiangshan Company to collect money every day, but I didn't get a penny. Later, he (referring to the steel bar supplier) sued me to the court, and I ordered me to repay 980,000 yuan with principal and interest." Xue Weixiong said.
According to Xue Xiongwei, since he collected debts, he has been thinking about it every day. "My family almost broke down due to the Xiangshan project. So far, doing the Xiangshan project (this incident) has deeply affected my family and me for ten years."
"We can't sue and can't afford the lawyer's fee. Because I owe money from the material supplier, I am now restricted from high consumption. During the holiday, I can only play nearby because I can't take a plane. I have been suppressed for so many years." Chen Changjian said. The debt collector behind
The creditors in a weak position are not the only ones Chen Changjian and Xue Weixiong.
Liu Yantao, who purchased the berth, told reporters that from 2008 to 2012, Xiangshan Company publicized that the Xiangshan yacht project is the largest yacht dock project in Asia, claiming "bearing charter", "fixed income", and "8 years of return to capital"... In 2011, Liu Yantao paid Xiangshan Company 5.96 million yuan to purchase berths and members, and agreed to be delivered and used in 2012. In fact, the hydropower facilities of the berth dock have not been completed until today, and no one received the sales office and no one answered the call.
"In 2015, sued the Siming District Court of Xiamen City. There was no news after the verdict. I bought the berth and borrowed some money from my friend. I still owe more than 2 million yuan and have not paid it off. Life is difficult, so I can only pay off my debts while working. Xiangshan Company sold more than 300 berths, and many people also had experiences like me." Liu Yantao said.
Registration form for some small and medium-sized creditors Image source: Photo provided by the interviewee
Creditor Lao Zhang (pseudonym) said that according to his understanding, more than 40 people or companies purchased VIP berths and comprehensive houses from Xiangshan Company as the headquarters. The purchase time was from 2006 to 2009. The contract stipulated that it would be delivered for use at the end of 2009, but it has not been delivered so far.
"At present, seven or eight villa buyers actually moved in in the unfinished project, but no one else moved in. In 2015, we organized decoration materials to be sent for decoration many times, but were obstructed by Xiangshan Company and could not go in to decorate. Several households living in it often encountered problems such as water and power outages in recent years.Our economy has suffered significant losses over the past decade, and we have invested a lot of financial resources and energy in the long-term protection of our rights, which has caused many difficulties in our business operations. "Lao Zhang said.
Liu Shaohong, the legal representative of Xiangshan Company, told the reporter of "Daily Economic News" on the phone, "As for the confirmation of debt rights, we have fully entrusted it to the Xiamen Intermediate People's Court. The Intermediate People's Court will determine the current debt status based on the current contract disputes, including labor disputes and engineering contract disputes. Then, we will entrust all debt rights to the disposal and confirm it by the Municipal Intermediate People's Court. Next, we will handle the specific entry procedures and (other) aspects formally by the court. We will announce the current progress of the company on the official account at any time. ”
Then, the reporter sent an interview letter to Xiangshan Company, trying to understand the progress of debt confirmation and debt repayment plan, but no response from the other party as of press time.
Daily Economic News
