CHEN FASHU v YUNNAN HONGTA TOBACCO GROUP CO LTD

[2017] 1 CMCLR 38

SUPREME PEOPLE'S COURT OF CHINA(CIVIL RULING)

Before Presiding Judge Zhang,Acting Judge Ding,Acting Judge Yang,Court Clerk Ma

Equity share transfer dispute – Agreement regarding transfer of state-owned assets – Approval procedure by state-owned assets supervisory organs – Transferor reported transfer to its parent company for decision – Transferor's parent company rejected transfer – Liability of culpa in contrahendo (pre-contract liability) – Whether the transferor faithfully completed related formalities – Loss of reliance interest.