The saga involving two famous Chinese companies, Soho China and Fosun Group, culminated in a highly controversial first-instance judgment made by the Shanghai First Intermediate Court in April 2013. The
Indirect equity transfers cannot circumvent right of first refusal
The case between Soho China and Fosun has shown that the transfer of equity without the consent of subsidiary equity-holders evades the right of first refusal. The Judgment may pose a threat to this practice, especially in the real estate sector
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