Post Tagged with: "Chinese corporations"

Dan Liu Fires Back at Founders Group International Partner

July 24, 2017 4:22 AM
Dan Liu Fires Back at Founders Group International Partner

(Pictured above, Dan Liu (left) and Nick Dou in happier times)

Dan Liu, majority partner of the Founders Group International entities, fired back hard at minority partner Nick Dou in answering a complaint in a lawsuit filed by Dou against Liu, three Chinese corporations and the many limited liability companies that make up the Founders Group International holdings.

According to Dou’s complaint, the three Chinese corporations were 90 percent owners of the Founders Group properties and Dou was 10 percent owner. Liu was the exclusive authorized agent in the U.S. for the Chinese corporations.

In his lawsuit, Dou alleges Liu was stripping assets out of the corporation for personal and other uses. The suit alleges breach of contract, fraud and conversion by Liu.

Additionally, Dou asks for a full accounting of corporate assets as well as a temporary restraining order directing Liu “shall not divert, remove, alienate, convert, encumber or otherwise manipulate any corporate assets of FGI or any of the other FGI Entities for his personal use or benefit, until such time as the claims raised in this action have either been resolved by this Court, settled and/or withdrawn by the Parties to this action…”

The complaint also states, “Plaintiff Nick Dou is informed and believes that the assets and property of FGI and the affiliated FGI Entities are at grave risk and danger of loss, and of material injury and impairment, at the hands of Defendant Dan Liu, if such property and assets are left under the exclusive control of Defendant Dan Liu.”

Dou’s complaint also states, “Upon information and belief, on or about March 27, 2017, the Nanjing District Attorney’s office for the Jiangsu Province of the PRC issued public statements that it seeks the arrest of Defendant Dan Liu for suspicion of investment fraud and “absorbing public money.”

A copy of this public statement release was submitted as an exhibit with Dou’s complaint.

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Myrtle Beach Downtown Changes

January 8, 2015 10:00 AM
Myrtle Beach Downtown Changes

The announcement that Myrtle Beach City Council approved city staff to move ahead with plans to reroute U.S. 501 brings a possible complete change to downtown closer.

With the widening project on Third Avenue South and the sidewalk project on South Kings Highway well along, rerouting U.S. 501 to essentially come straight up Seventh Avenue North would complete the trifecta of changes needed for the boundaries of the casino district.

I know the city and the Downtown Redevelopment Corporation like to call the area the South Mixed Use District, but I think casino district is more accurate.

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