Yonghui Supermarket issued an announcement tonight. The arbitration case between the company and Wanda Commercial Management of equity transfer funds has reached a final verdict, and more than 3.8 billion yuan has been successfully recovered. Wang Jianlin and others must bear joint and several liability.The cause of the incident was that Yonghui had previously sold shares in Wanda Commercial Management, with a total transaction price of 4.53 billion yuan, and it was agreed to be paid in installments. The transferee, Dalian Yujin, has been overdue since the second phase. Although the payment plan was re-agreed and additional guarantees were added, it still failed to perform the contract on time. Yonghui could only initiate arbitration to protect its own rights and interests.
According to the arbitration results, Dalian Yujin needs to pay the remaining transfer amount of 3.639 billion yuan, liquidated damages of 218 million yuan, as well as attorney fees, preservation fees and other related expenses, with a total amount of more than 3.8 billion yuan.
At the same time, Wang Jianlin, Sun Xishuang and Yifang Group bear joint and several liability for the debt, and the arbitration fees are also borne by the respondent.
Joint and several liability means that once the principal debtor fails to repay, the creditor can directly require the guarantor to repay.
According to the requirements of the ruling, the relevant funds need to be paid within 20 days after the ruling takes effect. As of the release of the announcement, the relevant parties have not fulfilled their payment obligations, and the impact on the company's current or subsequent profits cannot be determined for the time being, but it will not affect the company's normal production and operations.
