The Taipei High Administrative Court yesterday rejected a petition by the Chinese Nationalist Party (KMT) to suspend a sanction issued last month by the Ill-gotten Party Assets Settlement Committee.
The ruling can be appealed.
The committee on Nov. 2 said that Central Investment Co (中央投資) and Hsinyutai Co (欣裕台) are KMT affiliate organizations and therefore among ill-gotten party assets accumulated over the years through political influence and unfair competition.
Photo: Fang Pin-chao, Taipei Times
If the committee’s decision stands, the assets would be transferred to the state.
KMT officials filed for an administrative injunction to block the committee’s decision.
In injunction requests filed separately by the KMT, Central Investment and Hsinyutai, the applicants said the committee’s decision would result in irreparable damage to business operations.
The applicants asked the court to suspend the implementation of the committee’s decision before a final verdict on the case.
However, the court rejected all three applicants, with presiding judge and court spokesman Hsu Jui-chu (許瑞助) saying the committee’s decision would not cause irreparable damage to operations, while the transfer of shares would not lead to an urgent situation for the party.
Committee Chairman Wellington Koo (顧立雄) said the ruling was a minor victory and there is still some way to go in a long legal battle.
He said that the ruling affirmed the committee’s conclusion that the two firms are organizations belonging to KMT, but added that the injunction applications did not focus on orders to transfer their shares to the state.
“We are engaged in a long legal battle with the KMT. It is like a basketball match of 48 [sic] minutes. We are now only in the first minute and calling fouls. There is still a long way to the end of the game,” he said.
“The committee’s decision is final,” Koo said.
“It is certain that Central Investment and Hsinyutai are affiliated organizations of the KMT,” he said.
“This decision cannot be changed and cannot be removed,” he said.
“The committee will file a suit based on this fact and fight in court to find the winner,” he said.
He said that before a final ruling is made regarding action the investment firms are to take, they must report to the committee and receive approval regarding the handling of their assets.
The KMT expressed regret over yesterday’s ruling and said it would appeal.
Additional reporting by Shih Hsiao-kuang and CNA
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