Due to a contract dispute, Bitmain's wholly-owned subsidiary in Shenzhen was seized by the local People's Court with nearly 4.72 million yuan of property

According to BlockBeats, according to the execution ruling of the sales contract dispute issued by the People's Court of Bao'an District, Shenzhen City, Guangdong Province on December 13, Bitmain's wholly-owned subsidiary Shenzhen Century Cloud Core Technology had its property worth RMB 4,718,710.68 seized (or detained, frozen).

According to the ruling, due to a sales contract dispute, Dongguan Yongjiang Electronics Co., Ltd. filed an application for property preservation with the People's Court of Bao'an District, Shenzhen City, Guangdong Province on September 24, 2019, requesting the seizure (or detention, freezing) of RMB 4,718,710.68 worth of property in the name of the respondent Shenzhen Century Yunxin Technology Co., Ltd., and the Shenzhen Branch of China Pacific Property Insurance Co., Ltd. provided a policy guarantee as a guarantee. After review, the People's Court of Bao'an District, Shenzhen City, Guangdong Province believed that the applicant's application complied with the law and should be approved.

Original URL: http://wenshu.court.gov.cn/website/wenshu/181107ANFZ0BXSK4/index.html?docId=2bc3c87176714eb4ac95ab2200ba632d