China Shanshui: Lawsuit filed against subsidiary’s former managers

By Caroline Salls

Pittsburgh, March 30 – China Shanshui Cement Group Ltd. and wholly owned subsidiaries China Pioneer Cement (Hong Kong) Co. Ltd. and Shandong Shanshui Cement Group Co. Ltd. filed a lawsuit against Shandong Shanshui’s former senior management, alleging that the former managers breached their fiduciary duties, according to a news release.

The legal action was filed Wednesday in the High Court of Hong Kong.

As previously reported, senior managers Mi Jingtian, Chen Zhongsheng, Zhao Liping, Li Maohuan and Yu Yuchuan were removed from all their duties, powers, functions and authorities in the group and their employment was terminated.

Through the lawsuit, China Shanshui said it is seeking protection of the group’s assets from being seized by way of any unlawful means.

In addition, the company is seeking damages related to the alleged harm and loss incurred by the unlawful acts of the former senior management and injunctive relief to prohibit the defendants and/or their affiliates from undertaking unlawful acts to the detriment the group’s interest.

China Shanshui is a cement manufacturing company based in Jinan, China.

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