The Ill-gotten Party Assets Settlement Committee for the first time has taken over the stock of companies after the Supreme Administrative Court on Thursday rejected the Chinese Nationalist Party’s (KMT) appeal of a decision to nationalize Central Investment Co and Hsinyutai Co, which are estimated to be worth a combined NT$15.6 billion (US$498.32 million).
The committee would consult lawyers on how to proceed, as ongoing lawsuits might prevent it from immediately acting on the ruling, a source in the committee said on Friday on condition of anonymity.
The committee in 2016 declared that the two firms were illegally obtained assets, prompting the KMT and executives from the companies to file three separate lawsuits against the decision.
Photo: Liu Hsin-de, Taipei Times
The companies say that nationalization would be illegal.
The High Administrative Court ruled against the KMT, but the other two cases have been remanded, with the administrative court saying the firms “were not the appropriate entities to take the issue to court,” the source said.
The Promoting Transitional Justice Fund, which is managed by the National Development Council, has been looking into the procedures involved in transferring the ownership of the stocks, the source said.
There are no procedures for transferring ownership of stocks, they said.
The stocks, once transferred, would be subject to Article 7 of the Act on Promoting Transitional Justice (促進轉型正義條例), meaning that the Promoting Transitional Justice Fund would manage them — including for use in the promotion of transitional justice and human rights education, long-term healthcare, social welfare policies and other such causes, the source added.
Both companies would be considered government assets and the state would assign board members to finalize their nationalization, they said.
It is too early to consider the possibility of the government selling the stocks to allow the firms to transition to private ownership, they said.
Rejection of the KMT’s lawsuit upheld Constitutional Interpretation No. 793 — which established the act — the committee said, adding that recovery of former national assets upholds the ideals of liberty, democracy and the rule of law as represented by the Constitution.
KMT Secretary-General Justin Huang (黃健庭) accused the Democratic Progressive Party government of a “purge under the guise of transitional justice.”
It is regrettable that the administrative court has become an accomplice in this matter, Huang said.
Additional reporting by Shih Hsiao-kuang
Three Taiwanese airlines have prohibited passengers from packing Bluetooth earbuds and their charger cases in checked luggage. EVA Air and Uni Air said that Bluetooth earbuds and charger cases are categorized as portable electronic devices, which should be switched off if they are placed in checked luggage based on international aviation safety regulations. They must not be in standby or sleep mode. However, as charging would continue when earbuds are placed in the charger cases, which would contravene international aviation regulations, their cases must be carried as hand luggage, they said. Tigerair Taiwan said that earbud charger cases are equipped
Foreign travelers entering Taiwan on a short layover via Taiwan Taoyuan International Airport are receiving NT$600 gift vouchers from yesterday, the Tourism Administration said, adding that it hopes the incentive would boost tourism consumption at the airport. The program, which allows travelers holding non-Taiwan passports who enter the country during a layover of up to 24 hours to claim a voucher, aims to promote attractions at the airport, the agency said in a statement on Friday. To participate, travelers must sign up on the campaign Web site, the agency said. They can then present their passport and boarding pass for their connecting international
UNILATERAL MOVES: Officials have raised concerns that Beijing could try to exert economic control over Kinmen in a key development plan next year The Civil Aviation Administration (CAA) yesterday said that China has so far failed to provide any information about a new airport expected to open next year that is less than 10km from a Taiwanese airport, raising flight safety concerns. Xiamen Xiangan International Airport is only about 3km at its closest point from the islands in Kinmen County — the scene of on-off fighting during the Cold War — and construction work can be seen and heard clearly from the Taiwan side. In a written statement sent to Reuters, the CAA said that airports close to each other need detailed advanced
UNKNOWN TRAJECTORY: The storm could move in four possible directions, with the fourth option considered the most threatening to Taiwan, meteorologist Lin De-en said A soon-to-be-formed tropical storm east of the Philippines could begin affecting Taiwan on Wednesday next week, the Central Weather Administration (CWA) said yesterday. The storm, to be named Fung-wong (鳳凰), is forecast to approach Taiwan on Tuesday next week and could begin affecting the weather in Taiwan on Wednesday, CWA forecaster Huang En-hung (黃恩鴻) said, adding that its impact might be amplified by the combined effect with the northeast monsoon. As of 2pm yesterday, the system’s center was 2,800km southeast of Oluanbi (鵝鑾鼻). It was moving northwest at 18kph. Meteorologist Lin De-en (林得恩) on Facebook yesterday wrote that the would-be storm is surrounded by
RSS