Chinese bank sues for chairman’s fees – Corriere.it

from Salvatore Riggio

The hearing on March 8 in Milan: the president of Inter had declared that he would hold the position free of charge, but since in the statute not provided for, seven Chinese banks are trying to get back on his Italian income

Not a happy time for the Inter president Steven Zhang. Inter are struggling at the start of the season, but there are other problems off the pitch. Seven credit institutions, led by China Construction Bank, have filed an application to cancel the minutes of the Inter board of directors of February 18, 2019 which establishes that Zhang will not receive remuneration for the position.

The statute of Inter in fact, the Chinese bank’s lawyers point out, does not provide for this possibility. And for this very reason, with the civil case that will start on March 8th before the judge Alima Zama of the specialized section for companies of the Court of Milan, the lawyers of the Chinese bank aim to invalidate the resolution of the board of Inter in which it was declared that Zhang did not receive emoluments, and then eventually try to attack the sums received by the Chinese entrepreneur from the Milanese football club.

Everything revolves around the expiration, last week, of the deadlines for filing an appeal in Hong Kong against the sentence that wronged Zhang in the lawsuit filed by Chinese banks, which intend to recover 255 million dollars (about 250 million euros) of loans. and a defaulting obligation that he guaranteed. The Nerazzurri president had denied this guarantee, claiming that he did not sign the documents and claiming that he was not aware of the refinancing. Reconstruction rejected by the judge. But then Zhang did not lodge any appeal and, therefore, the executive actions of the sentence of last July were activated. And hence the attempt by credit institutions to retaliate on Zhang’s alleged Italian income.

September 23, 2022 (change September 23, 2022 | 21:29)

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About David Martin

David Martin is the lead editor for Spark Chronicles. David has been working as a freelance journalist.

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