The Topsoft Cases: The Perils of Loan Guarantees

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clpstaff

By Lily Wei Zhou, [email protected] China as elsewhere, winning a court judgment against a judgment-proof defendant might not be an event…

By Lily Wei Zhou, [email protected]

In China as elsewhere, winning a court judgment against a judgment-proof defendant might not be an event worth celebrating. While the chances of recovery have been slim for the plaintiffs who won suits against Shenzhen Stock Exchange-listed company Sichuan Topsoft Investment Co., Ltd. (Topsoft), the root causes that led to the reckless issuance of loan guarantees by such listed companies and their acceptance by lenders may be unique to China.

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