Guangzhou Himaxer Tyre Tech Co., Ltd. lost a case and was requested to pay back nearly 10 million yuan.
The case was reported to be closely relevant with Tianjin Shiji Rubber Co., Ltd. and a few others.
Yinda Financial Leasing and Tianjin Shiji Rubber Co., Ltd. inked a financial leasing agreement in July 2011 to lease semi-steel radial tire production equipment, valued about 26 million yuan, to the latter.
The duration of the leasing agreement was 50 months (four years and two months).
An insider said starting from 2013, Shijin Rubber became unable to pay the rent and stopped production soon.
The remaining financial leasing claims (starting from Dec. 20, 2013), had been transferred to Himaxer Tyre in Jan. 2014.
Yinda Financial Leasing and Himaxer Tyre confirmed the value of the claims transferred was 15.7 million yuan, including 2.5 million yuan for equipment repurchase.
Yinda Financial Leasing filed lawsuits against Himaxer Tyre and three of its guarantee companies in Jun. 2015 as Himaxer Tyre still didn’t pay for a part of the claims, valued 9.4 million yuan.
Guangzhou Intermediate People’s Court made the second instance verdict on Apr. 14, 2017, asking Himaxer Tyre to pay back the 9.4 million yuan and interests.
