Court blacklists CSC Phoenix boss

Court blacklists CSC Phoenix boss

A court in Wenzhou has ruled to put Chen Deshun, the owner of Tianjin Shunhang Shipping and CSC Phoenix, into the social credit blacklist due to his failure to comply with court rulings.

The court made the decision after Chen failed to comply with the court ruling that ordered him to pay back a RMB110m ($15.9m) loan and relevant interest to Fujian Haixia Bank.

Since May this year, China has banned those in the social credit blacklist from taking flights and trains, as well as leaving the country.

Tianjin Shunhang Shipping has been dealing with a financial crisis and is involved in numerous debt disputes with creditors.

The company has experienced a series of setbacks since it took over CSC Phoenix in 2015. Last month, a court in Shenzhen ruled to auction its entire shareholding in CSC Phoenix.

Tianjin Shunhang’s dredging subsidiary, Tianjin Ganghai Construction, filed for bankruptcy in June this year.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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