Jiangsu Muyang Group Files Multi-Billion Yuan Lawsuit Against Former Executives
Jiangsu Muyang Group has initiated legal action against former leadership, seeking to recover assets and damages following a long-standing ownership dispute.
Jiangsu Muyang Group and Muyang Co., Ltd. have filed a lawsuit against former executives, including Fan Tianming, with the Jiangsu High People's Court. The litigation seeks to hold the defendants accountable for alleged misappropriation of company assets and business interests following a decade-long period of internal instability.
The case stems from a 2008 equity dispute, which the Supreme People's Court of China previously identified as a major instance of wrongful property rights decisions. Following court-ordered reversals of coerced share transfers in 2020, the company’s current leadership, headed by Xu Youhui, has sought to reclaim operational control and assets that were allegedly diverted to entities like the FAMSUN group.
Legal filings allege that former management rebranded business activities and diverted revenue streams into independent companies while leveraging the reputation and history of the Muyang brand. The company is now pursuing significant financial restitution to account for the decade of lost revenue and operational dilution.