China Securities Investor Services Center on Behalf of Tai'an Delisted Company v. the Controlling Shareholder, Actual Controller, and Responsible Directors/Executives
The CSRC's 2025 investor-protection typical cases report shows that Tai'an Delisted Company's controlling shareholder had long non-operationally occupied company funds. In September 2024, the investor-protection institution filed a derivative action on the company's behalf against the controlling shareholder, actual controller, and responsible directors/executives. With continued judicial and institutional pressure, the occupier fully repaid principal and interest totaling RMB 572 million in April 2025 through a share-transfer and assumption structure, after which the court closed the matter by in-litigation mediation in May 2025 and returned the full filing fee prepaid by the investor-protection institution, illustrating a post-delisting recovery path against the key insiders.
Holding
The CSRC's 2025 investor-protection typical cases report shows that Tai'an Delisted Company's controlling shareholder had long non-operationally occupied company funds. In September 2024, the investor-protection institution filed a derivative action on the company's behalf against the controlling shareholder, actual controller, and responsible directors/executives. With continued judicial and institutional pressure, the occupier fully repaid principal and interest totaling RMB 572 million in April 2025 through a share-transfer and assumption structure, after which the court closed the matter by in-litigation mediation in May 2025 and returned the full filing fee prepaid by the investor-protection institution, illustrating a post-delisting recovery path against the key insiders.