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Home >> China
UPDATED: 09:11, July 09, 2005
China's local court offers big money for inf. of Israeli firm
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A local court in east China's Zhejiang Province posted big money on Friday for clues that may lead to property and assets of a Shanghai-based Israeli firm, which failed to hold its liability prescribed in a final court verdict.

Zhu Ruizhang, chief justice with the Jiaxing Municipal Intermediate People's Court, said the reward can go as high as 320,000 yuan (about 39,000 US dollars), 20 percent of 1.6 million yuan (about 193,000 US dollars), an equal to the liability of Nur Macroprinters (Shanghai) Ltd.

"It is rare in China for courts hunting for clues by rewarding public in a case involving foreign firms," Zhu said. With Erez Shachar, an Israeli, being its legal representative, Nur Shanghai is a foreign enterprise specialized in developing, manufacturing and marketing wide-format inkjet printing systems.

The executive justice of this case, Wang Yifan, said a Jiaxing-based advertising company, Dapeng, sued Nur Shanghai in May 2002 for a mal-functioned Nur printer that Dapeng bought in 2001. Founded in 1991,the machine's producer, Nur Macroprinters has been a publicly traded company (NASDAQ: NURM) since October 1995.

Source: Xinhua


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