Hague v Nam Tai Electronics

Nam Tai Property Provides Corporate Updates

Retrieved on: 
Friday, November 18, 2022
Other Construction & Property, Professional Services, Commercial Building & Real Estate, Legal, Construction & Property, Committee, Virgin Islands, Obstruction, Law, Form, US, NYSE, Annual report, NYSE Listed Company Manual, Security (finance), Hague v Nam Tai Electronics, British Virgin Islands, Form 6-K, Record, Acceleration, Book, BVI, Kaisa, PRC

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (Nam Tai or the Company) today provided the following corporate updates:

Key Points: 
  • Nam Tai Property Inc. (OTC Expert Market: NTPIF) (Nam Tai or the Company) today provided the following corporate updates:
    Efforts to Obtain On-Shore Control Nam Tais reconstituted Board of Directors (the Board) continues to engage in productive discussions with local policymakers and regulators, while also working with legal counsel to pursue claims, across multiple jurisdictions, against Wang Jiabiao, Zhang Yu, Greater Sail Limited and Kaisa Group Holdings Limited (collectively with its affiliates, Kaisa).
  • Specifically, the Company has been pursuing various legal strategies to obtain on-shore control in China:
    It has successfully obtained an injunction order prohibiting Wang Jiabiao and Zhang Yu from using corporate chops and business licenses of Nam Tai Investment (Shenzhen) Co., Ltd (Nam Tai Investment), which helps to prevent dissipation of Nam Tai Investments assets;
    It has successfully forced Mr. Wang to withdraw a litigation case purportedly brought on behalf of Nam Tai Investment against Nam Tai Group Limited (a wholly owned subsidiary of the Company) requesting the latter to contribute US$28 million as capital to the former; and
    It has brought a counterclaim requesting the Peoples Republic of China (the PRC) court to confirm the validity of the resolutions which removed Mr. Wang from his positions in the Companys on-shore subsidiaries and appointed Chunhua Yu as the Legal Representative of Nam Tai Investment.
  • Additional information pertaining to the developments announced today and other corporate matters will be found on the Form 6-K that Nam Tai will file with the SEC.
  • Nam Tai Property Inc., a Company incorporated in the British Virgin Islands (the BVI) and governed by BVI law, owns certain subsidiaries, which own and operate commercial real estate projects across China.

Nam Tai Property Provides Update on Local Affairs and Efforts to Preserve Social Stability

Retrieved on: 
Tuesday, January 11, 2022
Commercial Building & Real Estate, Construction & Property, REIT, Institutional Shareholder Services, City, Commerce, Hague v Nam Tai Electronics, Forward-looking statement, Security Bureau, NTP, Risk, Record, Board of directors, Eastern Caribbean Supreme Court, GLO, Negotiation, NYSE, Local government, Quinn Emanuel Urquhart & Sullivan, Form 6-K, LLP, Special, Deutsche Bank, Time, New Board, Company, IAT, Board, Annual report, Holding company, Risk management, Real estate, Management, Security (finance), Industry

We want to update you on our path to securing total on-shore control of Nam Tai Property Inc. ("Nam Tai" or the "Company") and its assets.

Key Points: 
  • We want to update you on our path to securing total on-shore control of Nam Tai Property Inc. ("Nam Tai" or the "Company") and its assets.
  • The Board has responded by actively engaging with local government officials to address Mr. Wang and Kaisa Groups apparent interference and uphold social stability.
  • Looking ahead, we intend to explore aggressive legal actions against parties who have harmed Nam Tai and put its stakeholders at risk.
  • Nam Tai Property Inc. is an owner-operator of commercial real estate projects across China.

IsZo Capital Issues Open Letter to Jefferies' Board of Directors Over Alleged Fraud and Theft

Retrieved on: 
Monday, January 3, 2022
Banking, Professional Services, Finance, Prime brokerage, Felony, Record, Crime, Guo, Kaisa, Board, Letter, Human, Wall Street, Theft, Nervous, Employment, Hague v Nam Tai Electronics, London Electricity Board, NYSE, Hippocratic Oath, NTP, Time, Director, Face, FINRA, Industry, Jefferies, Eva Kwok

I cannot imagine that, at this point in your careers, you would want to perpetuate Jefferies' crimes against a client.

Key Points: 
  • I cannot imagine that, at this point in your careers, you would want to perpetuate Jefferies' crimes against a client.
  • And if the Board doesn't take immediate action, then Jefferies' ongoing theft and defrauding of IsZo becomes a crime also committed by you.
  • In other words, Jefferies has committed fraud against IsZo and our clients for the entire duration of our business relationship.
  • IsZo intends to maintain a permanent website documenting Jefferies' crimes against IsZo to keep the public informed of the bank's misdeeds.

Nam Tai Issues Statement regarding the Hearing of Three Applications Filed Subsequent to the Appeal Judgment Dated October 4, 2021

Retrieved on: 
Thursday, November 11, 2021
Mission statement, Date, New South Wales Court of Appeal, Industry, Symbol, Judicial Committee of the Privy Council, Technology, Risk, Growth, New, Telephone, NTP, Form 6-K, Special, Forward-looking statement, Annual report, Virgin Islands, Privy council, Judgement, Variation, Internet, Company, SEC, Time, Hague v Nam Tai Electronics, United Kingdom, Guangdong-Hong Kong-Macau Greater Bay Area, Ridesharing company, Security (finance)

The Three Applications were heard by the Court of Appeal on November 8, 2021.

Key Points: 
  • The Three Applications were heard by the Court of Appeal on November 8, 2021.
  • ABOUT NAM TAI PROPERTY INC.
    We are a real estate developer and operator, mainly conducting business in Mainland China.
  • Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").
  • Please refer to our corporate website ( https://www.namtai.com/ ) or the SEC website ( www.sec.gov ) for our press releases and financial statements.

Nam Tai Issues Statement in Connection with its Appeal Against the Judgment dated March 3, 2021

Retrieved on: 
Monday, October 4, 2021
Form 6-K, Court of Appeal of Singapore, New, Exercise, Hague v Nam Tai Electronics, Risk, Justice, Eastern Caribbean Supreme Court, Annual report, High Court, Mission statement, Guangdong-Hong Kong-Macau Greater Bay Area, Industry, Company, High Court of Justice, Growth, BVI Business Companies Act, Technology, NTP, Judgement, Virgin Islands, Forward-looking statement, Time, SEC, Symbol, Online gambling

Further, the Court of Appeal ordered that the Company shall convene a special meeting of shareholders regarding the election of directors on November 30, 2021.

Key Points: 
  • Further, the Court of Appeal ordered that the Company shall convene a special meeting of shareholders regarding the election of directors on November 30, 2021.
  • ABOUT NAM TAI PROPERTY INC.
    We are a real estate developer and operator, mainly conducting business in Mainland China.
  • Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").
  • Please refer to our corporate website ( https://www.namtai.com/ ) or the SEC website ( www.sec.gov ) for our press releases and financial statements.

Nam Tai Property Inc. Secured a Loan Facility of Approximately US$164 Million to Address Its Liquidity Issues

Retrieved on: 
Tuesday, September 14, 2021
Risk, Form 6-K, Project, Loan, Ownership, RMB, Term Asset-Backed Securities Loan Facility, Technology, Board, Forward-looking statement, Hague v Nam Tai Electronics, Virgin Islands, Company, Bank of China, British Virgin Islands, Bank, NYSE, Annual report, Industry, Environment, Growth, NTP, New, Loan agreement, Mission statement, Guangdong-Hong Kong-Macau Greater Bay Area, SEC, Time, Security (finance)

Pursuant to the Loan Agreement, the Lender has agreed to grant to Nam Tai Investment a loan facility of up to RMB1.06 billion (approximately US$164 million) with a five-year term (the "Loan Facility").

Key Points: 
  • Pursuant to the Loan Agreement, the Lender has agreed to grant to Nam Tai Investment a loan facility of up to RMB1.06 billion (approximately US$164 million) with a five-year term (the "Loan Facility").
  • As at the date of this announcement, Nam Tai Investment has drawndown an amount equal to approximately RMB 575 million (approximately US$89 million) under the Loan Facility.
  • ABOUT NAM TAI PROPERTY INC.
    We are a real estate developer and operator, mainly conducting business in Mainland China.
  • Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").

IsZo Capital Reaffirms Commitment to Delivering Change at Nam Tai Following the Kaisa-Controlled Board’s Latest Anti-Shareholder Financing Maneuver

Retrieved on: 
Monday, September 13, 2021
Finance, Banking, Professional Services, Commercial Building & Real Estate, Construction & Property, Kaisa, HKG, Board, RMB, Bank of Guangzhou Tower, Hague v Nam Tai Electronics, Company, Bank, NYSE, Court, NTP, Review, Cerberus Capital Management, Learning, SEC, Special, Security (finance)

The Court found that the Companys Board of Directors (the Board) acted for an improper purpose when initiating the highly-dilutive transaction.

Key Points: 
  • The Court found that the Companys Board of Directors (the Board) acted for an improper purpose when initiating the highly-dilutive transaction.
  • We have repeatedly highlighted over the past year that Nam Tai, which has valuable real estate holdings that represent viable collateral, should have no issue maintaining access to capital and relationships with lenders.
  • This latest gambit by the Kaisa-controlled Board should remind shareholders that change is still sorely needed at Nam Tai.
  • We also encourage shareholders to learn more about our slate and sign up for important updates by visiting www.FixNTP.com .

Nam Tai Property Announces the Commencement of Pre-sale of Nam Tai Longxi

Retrieved on: 
Friday, August 6, 2021
Industry, Growth, Company, NTP, Housing, Trade and Industry Department, Real, Form 6-K, British Virgin Islands, Board, Environment, Risk, Hague v Nam Tai Electronics, Technology, Sale, Mission statement, Annual report, Longxi, New, Unit, Trade, SEC, NYSE, Virgin Islands, Government, Time, Local government, Commodity, Guangdong-Hong Kong-Macau Greater Bay Area, Forward-looking statement, Property management

SHENZHEN, China, Aug. 6, 2021 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE: NTP) today is pleased to announce that the Company (through its subsidiary) obtained the pre-sale permits for towers 1, 2 and 6 of Nam Tai Longxi on July 30, 2021.

Key Points: 
  • SHENZHEN, China, Aug. 6, 2021 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE: NTP) today is pleased to announce that the Company (through its subsidiary) obtained the pre-sale permits for towers 1, 2 and 6 of Nam Tai Longxi on July 30, 2021.
  • The commencement of the pre-sale of Nam Tai Longxi is one of the key steps in addressing the liquidity issues that are slowing progress.
  • ABOUT NAM TAI PROPERTY INC.
    We are a real estate developer and operator, mainly conducting business in Mainland China.
  • Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").

Nam Tai Provides Update on Litigation Filed by IsZo Capital Management

Retrieved on: 
Thursday, October 22, 2020
Tai, Shenzhen, BRITISH VIRGIN ISLANDS, CARIBBEAN, Countries, Hague v Nam Tai Electronics

SHENZHEN, China and TORTOLA, British Virgin Islands , Oct.22, 2020 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTP) today provided an update on the litigation filed by IsZo Capital LP (together with its affiliates, "IsZo") against the Company in the Eastern Caribbean Supreme Court in the High Court of Justice in the British Virgin Islands (the "Court").

Key Points: 
  • SHENZHEN, China and TORTOLA, British Virgin Islands , Oct.22, 2020 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTP) today provided an update on the litigation filed by IsZo Capital LP (together with its affiliates, "IsZo") against the Company in the Eastern Caribbean Supreme Court in the High Court of Justice in the British Virgin Islands (the "Court").
  • The difficulties which small real estate companies, such as Nam Tai, face in obtaining bank financing in China.
  • Our main land resources are located in the Guangdong-Hong Kong-Macao Greater Bay Area ("Greater Bay Area") and Wuxi, China, of which the three plots in Shenzhen will be developed into Nam Tai Inno Park, Nam Tai Technology Center and Nam Tai Inno Valley.
  • Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").

Nam Tai Provides Update on Evaluation of Request to Call Special Meeting of Shareholders

Retrieved on: 
Tuesday, October 6, 2020
Equity, Legal professions, Common law, Fiduciary, Tai peoples, Law, Hague v Nam Tai Electronics, Legal history

In line with its fiduciary duties, the Board has requested additional information from IsZo to help it determine the validity of the request.

Key Points: 
  • In line with its fiduciary duties, the Board has requested additional information from IsZo to help it determine the validity of the request.
  • The Company also noted that there has been no special meeting convened at this time, and no record date has been set by the Nam Tai Board of Directors.
  • ABOUT NAM TAI PROPERTY INC.
    We are a real estate developer and operator, mainly conducting business in Mainland China.
  • Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").