Love built, Genliyan knot difficult to solve

Shanghai Rich Genliyan and former gold Lord Love to build shares between, can in the first instance verdict to reach debt, commutation of the transaction? With Genliyan in February this year for misappropriation of funds and crime of contract fraud into the indictment, the former Shanghai mysterious rich and love to build shares (600643. SH) has entered the total liquidation for nearly a decade of entanglement.　　But chess near the final, dark war more intense. This newspaper reporter learned that the Yan side and the love building shares are still in the long negotiations.　　Yan hopes to "spend money on disaster" to avoid prison, while love-building shares require the Yan to come up with full realisable assets to ensure that the upcoming trust scheme will be honoured. Yan one side denounce love build shares persecution private enterprise: "Use Genliyan in ' inside ' situation sit, this and kidnapping what difference?" "The attitude of building shares is also very strong." "How much money you owe, the judicial audit is clear, and we have confirmed your assets. What is the rush of love? "In the future, whether it is enforced or negotiated to deal with asset disposal, debt is a legitimate concern," said one person familiar with the stake.　　People close to the case told The Economist that the case had been submitted to the Supreme Court in the form of instructions. "The aim is to get the Supreme Court's approval first. If the first trial in a Chinese court, the second trial to the Shanghai High courtyard, the appeal to the supreme courts, afraid of the Supreme Court again. It is impossible to overturn the verdict if the decision is taken first by the Supreme Court's opinion. "At present both sides are in the game of the Supreme Court how to sentence." Our correspondent called the Supreme Court for confirmation.　　The opinion of the Supreme Court will directly determine the outcome of the years of feud-the end of Genliyan: either a victory or a defeat. However, there are also Shanghai analysts expect the negotiations can finally be reached: "Shanghai authorities will not sit idly by." "From" Love and cooperation "to the court in court" Ai Jian "originated from the industrial and commercial patriotic donations and national preferential policies, the major shareholder for the Shanghai business Community Patriotic Construction Special Foundation. But the large shareholder has long not actually discharged the right, the management has been appointed by the municipal government.　　It is the condition of the substantial shareholder's real position that makes the hack of the rat. The "friendship" between Genliyan and "Ai Jian" began in 1995.　　At that time Genliyan bought the "love to build the department" under the property of the Philharmonic mansion, thus with Shanghai love to build real estate company chairman Wang Changda acquaintance. Then Genliyan with the original love to build trust general manager Ma Jianping, the original Love Jian Securities chairman Liu Shunwan secretly blending, carried out nearly a decade of "mutual assistance"-Genliyan has served as a financing intermediary, in order to not fully mortgage from the trust to obtain loans, take a commission for the love of the establishment of securities and Hong Kong businessmen made public to the stock market;　　Love to build shares and anxious to find Genliyan common "invented" Harbin Love to build Metro underground shop projects, for the huge loss of "Shangai." Genliyan people said that in December 2002, love to build trust will be a huge amount of money to love to build securities for Hong Kong stock market losses of 687 million yuan, love to build shares DongLong Gu Qing persuaded the Shanghai Lixin accounting firm False, conceal the fact, and through love to build shares company board resolution, will this 687 million yuan as a creditor's rights transfer to Genliyan and its enterprises, buy Harbin Love build Metro underground shops. In December of the following year, Gu Qing again will not be able to recover the trust of the 1.1017 billion yuan as a creditor's rights transferred to Genliyan and its enterprises, the purchase of Harbin Love to build new Town underground shops.　　September 30, 2005, Love and Yan Enterprises in the sale of love to build new Town underground shops all unfinished business signed the final disposition agreement (ie, "930 agreement"), reconfirmed the above transaction.　　According to this, Genliyan has been insisting that he is a "love to build a system", and eventually "refused to provide help" was bitten a mouthful, and his "love to build" relationship compared to "farmers and snakes." But that's not the whole story.　　The Yan side also does not deny that Genliyan is conducive to the "love building" cooperation. Yan's "first bucket of gold" dug from Guangxi sugar trade.　　With the "Love of Building" alliance, Genliyan Wealth will be explosive growth, one of the most crucial part is Harbin love to build New town.　　The planned construction area of 2.2 million square meters of the project, playing the brand love, built entirely by love to provide funds and manpower development completed, but only one building and from the Civil Air defense engineering renovation unfinished underground shops belong to the "love to build the department." "The financial strength of Genliyan between 2001 and 2002 is at best 100 million or 200 million." Harbin Project 2.2 million square meters of total investment should not be less than 12 billion yuan, registered capital of 250 million yuan is where? Land paragraph 2.7 billion yuan, 500 million yuan of the first payment, 2.2 billion yuan of the balance is where? Genliyan Enterprise at that time even the land development qualifications are not, this project development success, rely on which link? What kind of partnership does he have with love in the process?　　"A man who loves to build a man questions angrily. "To be able to win this project, is Ma Jianping ran to Harbin, the Trust company did not give him any authorization, in the name of the general manager of the Trust Company made a 2.2 billion yuan unpaid guarantee, the contract signed The registered capital of 250 million yuan is all provided by the love Construction trust; Most of the first payments come from money in a love-built account; The team is a love of building property, for three years. Many people in Harbin still think Genliyan is a worker who loves to build it.　　said the person. In the September 2004, Ma Jianping was eventually dismissed from the building trust, who quickly came to Genliyan's office.　　In May 2009, Ma Jianping, Liu Shunwan and Genliyan were arrested. A person close to a stake in Love has revealed Genliyan signed a number of key contracts, including the "930 contract", which clarified the interests of both sides in the Harbin project, but the provisions of the unfair is surprising, love to build a law cannot win, which is the reason for the previous choice of shares and Genliyan negotiations.　　But in the end, the lengthy negotiations ended in failure. One side of the Yan also admitted that the love of building shares in the new Town project to prosecute the odds is very small, only to chooseChoose According to the past Genliyan and love to build money between the fuss.　　As a result, the two charges on indictment in February fell to the "misappropriation of funds" between October 2000 and September 2001, as well as the "contract fraud" of two 100,000 square metres (formerly including 135,000 square metres and the proposed 65,000 sq m) of underground shops in January 2003 and May 2004. Plea bargain inextricably "February 3 session, even open three days, the last day open until 10 o'clock night." Both sides of the debate have a different opinion.　　A person on the Yan side described the severity of the trial.　　The prosecution sent a "star public prosecutor," said the Shanghai Municipal Inspection Branch Prosecutors Chen Satellite, Genliyan hired five law firm more than 10 lawyers. Such a scramble, covering the charges involved in contract fraud. According to article 224 of the Penal Code, the amount of contract fraud is exceptionally large or otherwise particularly serious, and may be sentenced to imprisonment for more than 10 years or life imprisonment, with fines or confiscation of property.　　The amount involved in the Genliyan is clearly in line with the "exceptionally large" one. The defense believes that, in the case of misappropriation of funds, Genliyan and love-built trust has a formal loan contract, its own less actual possession of loan funds, can not constitute misappropriation; on the crime of contract fraud, the purchase of underground shops to help love build digestion of bad debts.　　Yan side several times to the reporter stressed that the nature of the criminal case is coerce Genliyan for love to build the bill, it is bones. Outside the courtroom, the game is more intense. People close to the case said the court's attitude was to facilitate negotiations between the two sides, and that both the court and the Dean had been seeking Genliyan talks.　　But this newspaper reporter failed to obtain the confirmation of Shanghai one Chinese courtyard in this news. The person also said that the two sides have negotiated multiple rounds, although Genliyan has promised to pay about 1.8 billion yuan "poorer disaster", but the two sides on the final provisions of the dispute, has not signed an agreement.　　The key difference is that Genliyan wants to get a legal "statement" to pay, at least a conditional agreement, and the love-building aspect requires Genliyan to confirm the assets first, and that it is impossible to produce a written commitment. "Genliyan worried that the public power department, billions of for him is a bankrupt, if not out, just commutation, too deficient."　　"The person said.　　The people on the side of the Yan basically confirmed the above statement.　　People close to the construction of love, said that the focus is light sentence, how light, no one can not guarantee, more impossible to give Jinfang a written commitment, so the big deal is sentenced to enforce later. In addition, our correspondent understands that there are also many disputes over the disposition of assets.　　Love to build the hope that the Yan in Shanghai, the new Ling land debt, and the Yan side is unwilling. The new Ling Plot of No. 1100th, Lu Jia Bang Road, Shanghai, has not yet been completed and belongs to the son Zhang Ye of Genliyan wife Zhang Weiling and Genliyan. Yan side of the people said, "The new Ling plot is Genliyan family members, it is impossible to give them." "And the people who love to build it say that because of the upcoming trust scheme that needs to be cashed, loveHope to get the best cash, the current Genliyan related to the only asset can be cashed, other assets are contained in debt, can not be disposed of. The term "Shangai" is entrusted to the business for a period of five years and is about to expire, most of which are foreign capital of Shanghai state-owned enterprises and various institutions affiliated to the Shanghai municipal government. It is because of the secrecy of the identity of the holder that this plan, though not honoured, has been uncovered.　　At the expiration of five years, the project was extended for another year because the problem remained unresolved. "The new Ling plot also has the debt, the net income appraisal also is 1 billion yuan, does not have to 2 billion yuan." At present, we still need Genliyan cooperation to confirm the right.　　"People close to the building say.　　The value suspense of the underground shop is one of the core differences of the case-the status and value of the underground shops in Harbin Love building New Town. Close to the construction of the reporter stressed that love built at that time, love built the new town of salvage loans total amount of about 4 billion yuan, including non-performing loans of 1.8 billion yuan and cash 2.3 billion yuan.　　The actual liability of Genliyan is 3.2 billion yuan, minus the 1 billion yuan returned and the remaining 2.138 billion yuan.　　The so-called salvage loan, refers to to avoid the real estate project "dead Disk" and the additional development input. Now 135,000 square meters of underground shops, only 40,000 square meters can be sold as merchandise, but also not reach the delivery conditions. The rest of the Civil air defense works, only the right to use no ownership, and can not be sold as a commodity. At that time 4 billion yuan including 2.3 billion yuan of cash, cast down has been five years, only 427 million yuan of assets corresponding to 2.138 billion yuan of claims, deducted 40,000 square meters of the value of 427 million yuan, there are 1.711 billion yuan, which is the judicial cognizance of the amount of contract fraud. "He said," You still owe me a billion of, isn't that a scam?　　And the defense lawyer suggested that the certificate obstacle of Civil Air defense works is found in the process of contract fulfillment, and can be obtained by examination and approval procedure, there is no absolute obstacle.　　A person on the Yan side said to our correspondent that the follow-up development was not completed, because love built can not afford high heating costs and transfer deed; but paradoxically, he also said that all 135,000 square meters have obtained pre-sale permits, is a direct sale of goods. 2004, the Yan side will be 135,000 square meters of underground shops to 20,000 yuan per square metre to "love", but at that time the market price of up to 2000 yuan per square metre to 4000 yuan.　　With real estate prices soaring in recent years, the value of this shop has gone up. At the beginning of 2009, Ai Jian, a senior personage, had estimated to our correspondent that if the building was completed, the value of the shop would be about 20,000 yuan per square metre.　　Today, there are two real estate agents in the vicinity of the love building new town estimated that the future of this underground shop to sell 50,000-60,000 yuan per square metre is not impossible.　　However, the love built on this ridge has been unwilling to take risks. "The location of the project in Harbin is still relatively biased, can not take the train station attachedNear the underground shops to evaluate. At present, only dug a big hole, do certificate, decoration and other follow-up investment needs a few billion, not love built, but smashed down, became a ' dead shop ' how to do? "People close to the building said," If the profit, love to build why toss, if the truth value of this money, even if 30,000 yuan a square meter transfer to others can not?　　In this regard, the Yan side that is love to build unfamiliar with the real estate market in Harbin. "If you think the underground shops are worthless and need money, then the underground shops must return to me, and I can't have any more money and shops." And if you ask for money, you must also release it to operate, and we have no right to dispose of Genliyan's assets.　　"The person said. According to our correspondent, The Yan side had wanted to package the assets and debts, to the Shanghai state-owned enterprises on the real group, to this set.　　But the group believes the stakes are too high and has already declined. The Department of Love was formally reported in October 2008, these underground shops and civil air defense fortifications have been the judicial seizure. Local people say the underground building, which works almost at the same time as the new town, remains the same as the cave, where the huge entrance is sealed with cement, railings, wire or planks.