Jiangsu Muyang Group said Nov. 2 that the Jiangsu High People’s Court had accepted its compensation lawsuit against former executives, while Myande Group put the claim at RMB 10 billion, a figure not specified in Muyang’s release.
The plaintiffs are Jiangsu Muyang Group Co. Ltd. and Muyang Co. Ltd. Muyang’s announcement named Fan Tianming, other individuals and affiliated entities, including the FAMSUN group and FAMSCEND, as defendants. It said the lawsuit concerns damage to the plaintiffs’ business interests. The company statements do not report a ruling on liability or damages.
Myande said in an Oct. 31 statement that the court had accepted the lawsuit and Muyang had paid the court fee. It also said Myande is not a party to the dispute. The statement gave the amount sought as RMB 10 billion, while the headline of Muyang’s PRNewswire release described a claim in the tens of billions of yuan. Neither statement offered a breakdown explaining the difference.
Muyang framed the lawsuit as part of a longstanding ownership dispute. Its Nov. 2 release cited a 2021 Jiangsu High People’s Court judgment and said the decision found that business had been shifted to other corporate platforms, harming Muyang Group. That account rests on Muyang’s description; the judgment itself was not independently verified.
A separate appeal concerned a 2008 agreement transferring Xu Ronghua’s 15.51% stake. In a statement reproduced by The Paper from the court’s WeChat account, the Jiangsu High People’s Court said the agreement had been signed while Xu was detained and under coercion. The court left the cancellation of the transfer in place and ordered Fan Tianming and Chen Jiarong to return the shares.
Neither company gave a date for the next hearing.
