The Taipei High Administrative Court yesterday ruled against the Chinese Nationalist Party (KMT) in two lawsuits initiated by the Cabinet’s Ill-gotten Party Assets Settlement Committee over three entities in Taipei with a combined worth of NT$16.38 billion (US$589.19 million at the current exchange rate).
The court’s decision deemed that two investment firms — Central Investment Co (中央投資公司) and Hsinyutai Co (欣裕台), worth a combined NT$15.6 billion — and one residential building — Daxiao Building (大孝大樓), worth NT$782 million — had been obtained by the KMT through illegal means.
The court ruled that the properties were ill-gotten party assets and prohibited the KMT from disposing of or transferring them, while company shares and the value of the properties are to be transferred to the state.
The KMT’s attorney Chang Shao-teng (張少騰) said that the party would likely appeal the decision.
In 2016, the committee, which was then headed by Wellington Koo (顧立雄), issued an administrative injunction through a disposition letter that the KMT needed to transfer all shareholding rights to the government.
A committee investigation found that the KMT had used illegally obtained assets to start the KMT-affiliated investment firms.
The KMT had contravened the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations (政黨及其附隨組織不當取得財產處理條例), which had been enacted to ensure fair competition among political parties and to improve the nation’s democratic system, the committee said.
The probe found that the KMT had owned 100 percent of Central Investment since its founding in 1971 and had spun off Hsinyutai Co in 2010 with the intent of separating disputed party properties from those that could be privatized, although KMT officials continued to own and manage both companies.
“In an era when there was no distinction between the party and the state, half of the KMT’s revenue came from state subsidies, while its affiliated organizations provided about 20 percent, and it had some other sources of income,” Koo said at the time.
To block the committee’s injunction, KMT officials filed the litigation at the Taipei High Administrative Court.
The party also filed for a constitutional interpretation on the case. In August last year, the Council of Grand Justices issued Interpretation No. 793, which ruled in favor of the committee and allowed the case to proceed.
In May 2019, the committee issued an injunction that the KMT needed to transfer the value of the Daxiao Building, which is on Aikuo E Road, to the government.
An investigation found that the property had been public housing before the KMT took it over in 1985, and that the building was sold to the KMT-owned Kuanghua Investment Co (光華投資) for NT$1.3 billion in 2002, before being sold to Yuanta Group (元大集團) in 2010.
Former US secretary of state Henry Kissinger said he does not foresee a Chinese military invasion of Taiwan in the next decade, although it is “perfectly possible” that China could seek to weaken the island’s status. “I don’t expect an all-out attack on Taiwan in, say, a 10-year period, which is as far as I can see,” Kissinger said yesterday in an interview on CNN’s Fareed Zakaria GPS. Kissinger, 98, who also served as national security adviser and helped pave the way for then-US president Richard Nixon’s historic 1972 visit to China, said that “everyone wants to be a China hawk” and
Taiwanese actress Big S, also known as Barbie Hsu (徐熙媛), and Chinese restaurateur Wang Xiaofei (汪小菲) officially announced their divorce yesterday, stating the decision was cordial and that they would be raising their two children together. The statement came by proxy through the couple’s legal counsel, filed by both Wang and Hsu. Hsu and Wang thanked fans for their love and support, with the couple saying that fate had blessed them with a time of happiness, and that they were grateful for their time together. They said that while they walked hand-in-hand as husband and wife, they would continue a cordial relationship as
UNUSUAL PUNISHMENTS: Tortuous and possibly criminal penalties doled out by nine officers to a napping cadet have sparked calls for standardized discipline rules Defense experts called on the Ministry of Defense to create a standard code for maintaining discipline, after local media on Saturday reported that nine officers were reprimanded for administering inappropriate punishments to a conscript in Kinmen. Earlier last week, a boot camp recruit surnamed Chung (鍾) was stripped of his shirt and had icepacks placed against his armpits and crotch as a punishment for napping during physical training, the Kinmen Defense Command confirmed on Saturday. The command cadre of the battalion, including the battalion commander, the political warfare officer and the sergeant who ordered the drill have been transferred and could face
CCP IDEOLOGY: MAC Deputy Minister Chiu Chui-cheng said the CCP’s consolidation around one leader would shrink the space for economic and private endeavors Beijing plans to intensify its unification campaign, a Mainland Affairs Council (MAC) official said yesterday in an assessment of statements by Chinese leaders, while stressing the importance of consensus among Taiwanese. At a conference on Chinese development and security prospects in the Taiwan Strait, MAC Deputy Minister Chiu Chui-cheng (邱垂正) noted key developments in Chinese Communist Party (CCP) rhetoric. Much attention has been given to the sixth plenum of the CCP Central Committee, which on Nov. 11 issued the party’s third-ever “historical resolution,” paving the way for Chinese President Xi Jinping (習近平) to retain power through next year’s leadership reshuffle, Chiu said. According
RSS