Yingde Gases’s shareholders dispute

Walkers has acted for the founders and minority shareholders of Yingde Gases, the largest supplier of industrial gas in the PRC, in a hard fought shareholders’ dispute over the control of the management of the company, which involved multiple actions in the Cayman Islands’ courts designed to protect the interests of all shareholders.

Those actions were ultimately successful, with Mr Sun and Mr Strutt resuming their key executive roles on the board and with five directors in the opposing faction being removed at an EGM held on 8 March 2017.

Mr Sun and Mr Strutt are currently working, together with the new board, to maximise value for all shareholders in a potential sale of the company.

These events are the latest illustration of how offshore minority shareholder protections, in this instance through the Cayman Grand Court, can quickly and effectively be employed to protect shareholders’ rights where there is a dissatisfaction with the actions of the incumbent management.

Walkers’ team was led by Partner Timothy Haynes (Picture).

 

Involved fees earner: Timothy Haynes – Walkers Global;

Law Firms: Walkers Global;

Clients: Trevor Strutt; Sun Zhongguo;

 

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Author: Michael Patrini