Reference Case: Hu Xiufang et al. v. Chengdu Zhongtie Venture Capital Partnership
In the retrial-review stage, the Supreme People's Court adhered to the earlier reasoning that Supplemental Agreement III governed redemption rights between the investor and the original shareholders and did not itself impose contractual obligations on the target company. The absence of the target company's seal therefore did not defeat formation, and once the contemplated listing failed the investor could enforce the restored repurchase clause against the original shareholders.
Holding
In the retrial-review stage, the Supreme People's Court adhered to the earlier reasoning that Supplemental Agreement III governed redemption rights between the investor and the original shareholders and did not itself impose contractual obligations on the target company. The absence of the target company's seal therefore did not defeat formation, and once the contemplated listing failed the investor could enforce the restored repurchase clause against the original shareholders.