Announcement- Case of private lending contract disputes among Zhang Hongfang (“Plaintiff”) and You Weiping(“Respondent 1”) and ZhongYuanchao (“Respondent 2”)

You Weiping and ZhongYuanchao,

This Court has entertained the case of private lending contract disputes among Zhang Hongfang (“Plaintiff”) and You Weiping (“Respondent 1”) and ZhongYuanchao (“Respondent 2”)(Case No.: [2016] Yue 0391Min Chu[1]No. 481). In accordance with Article 267(1) of the Civil Procedure Law of the People’s Republic of China, the Civil Judgment ([2016] Yue 0391Min Chu No. 481) is hereby served to you by means of announcement, which rules as follows: 1. Respondent 1 and Respondent 2 shall pay Plaintiff the capital RMB560,000 within three (3) days commencing on the day when the Judgment takes effect; 2. Respondent 1 and Respondent 2 shall pay Plaintiff interest of the loan since June 14, 2014 within three (3) days commencing on the day when the Judgment takes effect. Regarding the interest from June 14, 2014 to March 25, 2016, it shall be calculated on a basis of unpaid loan and at an annual interest rate of 24%. Regarding the interest since March 26, 2016, it shall be calculated on a basis of the capital of the unpaid loan and at the loan interest rate of the People’s Bank of China for corresponding period to the day when the capital is paid off. RMB27,000 shall be deducted from above interest; 3. Other claims made by Plaintiff shall be dismissed. The litigation fee is RMB12,208, RMB2,408 of which shall be borne by Plaintiff, and RMB9,800 of which shall be borne by Respondents 1 and 2. Public announcement fee RMB550 shall be borne by Respondents 1 and 2. This Announcement shall be deemed to have been served after three (3) months since being issued. If you refuse to accept the present judgment as final and binding, you may appeal to the Intermediate People’s Court of Shenzhen, Guangdong through this court within 30 days upon expiry of publicity of this Announcement. In case of submission of a written appeal, duplicates (the number of copies equals to the number of respondents) thereof are required (This Announcement was published in the People’s Court Daily on June 22, 2017).

 



[1]This is the transliteration of the citation of the case in Chinese. In the citation convention of the courts of the People's Republic of China (the “PRC”), Yue () means Guangdong Province; Min () means civil; Chu () means first instance judgment (judgment of the People's Court of Shenzhen Qianhai Cooperation Zone.); Put together, Yue Min Chu (粤民初) means a first instance judgment made by the civil division of the People's Court of Qianhai Cooperation Zone, Shenzhen, Guangdong.