The parent company of Jkpay has a dispute over equity, and the court ruled in favor of Taishan.
Yesterday, multiple Taiwanese media reported that when the Taipei District Court went to seal the premises of Jkpay's parent company 'Jkpay Financial Technology', they found the location empty, which again attracted attention to the equity dispute between Jkpay and Taishan.
According to reports from the United News Network, the equity dispute between Taishan and Jkpay Financial Technology originated from a board meeting held by Taishan's previous management team in May 2023, where it was decided to invest 3.6 billion yuan to acquire 40.39% of Jkpay's equity.
Subsequently, at the 2023 extraordinary shareholders' meeting, Longbang Group obtained multiple board seats at Taishan. After the transfer of management rights, the new management team questioned the validity of the agreement signed by former representative Zhan Jingchao with Jkpay, leading to a lawsuit for the return of the investment funds.
In this lawsuit, the Taipei District Court ruled in favor of Taishan in May this year, confirming that the transactions between the two parties were invalid. Therefore, Jkpay must return 3.5958 billion yuan in equity value.
The court also allowed Taishan to proceed with provisional execution after providing a guarantee of 1.19 billion yuan.
The court sealed the street corner where the headquarters of Jkpay was found empty.
However, according to reports from the Mirror News Network, when the court went to execute the sealing procedure at the registered address of Jkpay (7th floor of Heku Financial Holding Building) yesterday afternoon (7/10), it was found that the place was already empty.
Not only have all internal personnel and equipment disappeared, but even the nameplate originally indicating 'Jkpay Financial Technology Co., Ltd.' on the floor directory on the first floor has also been removed.
During the enforcement of the seal, the general manager of Jkpay, Mr. Fan, explained on the 7th floor that this floor is used by the subsidiary Jk Electronic Payment and stated that Jkpay Financial Technology is merely a holding company with no staff present.
After confirmation by the court clerk at the scene, it was found that there were indeed no relevant properties or employees of Jkpay Financial Technology, so the sealing procedure could not continue.
Jkpay emphasizes independent operation, and user rights are not affected.
The empty state of Jkpay's parent company facing sealing has drawn attention from multiple media outlets and users.
Jkpay issued a statement yesterday clarifying that it operates independently as a subsidiary, is regulated by the Financial Supervisory Commission, and has a complete management team, independent corporate governance structure, and rigorous internal control systems.
The company emphasized in its statement that all agency payment and collection amounts and stored value balances are 100% trust protected, and business and financial processes are executed in accordance with relevant regulations, unrelated to the civil procedures faced by the parent company, ensuring that operations, finances, and user rights are unaffected, while user services and partnerships with stores remain stable.
Source of the image: Jkpay announcement regarding the sealing of its parent company by the court.
However, according to the Mirror News Network, former chief prosecutor Zhang Zhijie pointed out that Jkpay, as a third-party payment institution, should be supervised by the Financial Supervisory Commission. The current situation where the parent company's account is completely empty is a significant anomaly, and it is recommended that the Financial Supervisory Commission intervene in a timely manner to protect the rights of millions of users.
The article titled 'Jkpay's parent company erupts in equity dispute! Taishan seeks 3.6 billion, court sealing finds the place empty' was first published in 'Crypto City'.