In the News...
BY MICHAEL RAPOPORT For some U.S. investors trying to hold Chinese companies to account, Robert Seiden could be the last, best hope. . . Read More
U.S. Court-appointed Receiver for Sino Clean Energy Inc. (Nasdaq “SCEI”) taking control of Chinese Company
BY PR NEWSWIRE After exhausting nearly all avenues of cooperation with Chairman Baowen Ren, Robert W. Seiden, Esq., Court-Appointed Receiver (“Receiver”) of Sino Clean Energy, Inc. (“SCEI”) has taken decisive steps to taking complete control over SCEI and its China operations. SCEI is a leading producer of coal-water slurry fuel in China. . . Read More
Sino Clean Energy Inc. (“SCEI”) – N.Y., Nevada, Hong Kong, Xi’an Court-Appointed Receiver to Take Decisive Steps Due to Company’s Failure to Keep Its Word
BY PR NEWSWIRE Court-Appointed Receiver for publicly-traded China-based clean energy company (SCEI) takes decisive measures to bring company into compliance with Nevada court order based on Chairman’s lack of cooperation. Shortly after Robert W. Seiden, Esq., Court-appointed receiver (the “Receiver”) of Sino Clean Energy, Inc. (“SCEI”) (Case # CV 14-00484, Recker et al v. Sino Clean Energy, Inc., State Court of Nevada) took control over Wiscon Holdings, SCEI’s wholly- owned subsidiary in Hong Kong, SCEI’s Chairman Baowen Ren committed to cooperate with the Receiver pursuant to the U.S. court order compelling the chairman and his company to comply with the…
Court-Appointed Receiver in US Reports Early Progress for All Shareholders in Publicly-Listed Chinese Reverse Merger Company Sino Clean Energy Inc
BY ROBERT SEIDEN Robert W. Seiden, Esq., Court-appointed receiver (“The Receiver”) over Sino Clean Energy, Inc. (“SCEI”), has taken control over SCEI’s wholly-owned subsidiary in Hong Kong which controls the operating entities in mainland China. . . Read More
Judge Peck appointed Robert Seiden as the receiver for the Company effective immediately and, under applicable Nevada statute, Judge Peck’s appointment of a receiver is not subject to appeal.
Case Is Test of Investors’ Ability to Recoup Losses in Wake of Accounting Questions BY MICHAEL RAPOPORT The court-appointed receiver empowered to seize the assets of a U.S.-traded Chinese company facing accounting questions has chalked up his first successes. . . Read More
Delaware Court of Chancery imposes extreme remedy for failure to produce books and records in Delaware
BY IRWIN KISHNER AND DANIEL A. ETNA, HERRICK FEINSTEIN LLP A Delaware Court of Chancery decision highlights the importance of complying with the books and records requirements imposed by Section 220 of the Delaware General Corporation Law. At issue was a Delaware corporation operating in China which failed to comply with a December 2012 default judgment ordering it to produce corporate books and records in Delaware pursuant to Section 220. The corporation was only willing to make its books and records available for inspection at its principal office in China. The court held the corporation in contempt of court and…
BY KAJA WHITEHOUSE US Marshals raided a Brooklyn home this week, looking for books and records of a China-based cable company accused of stiffing its shareholders, The Post has learned “We are leaving no stone unturned,” said Rob Seiden, the receiver who has been tasked with locating ZST’s assets for Deutsch. . . Read More
With the increasing use of arbitration as an alternative to full-blown litigation, the risk of a conflict of interest by an individual arbitrator has grown, too. BY ROBERT W. SEIDEN With the increasing use of arbitration as an alternative to full-blown litigation, the risk of a conflict of interest by an individual arbitrator has grown. This risk can be mitigated significantly by the use of comprehensive and exhaustive investigative due diligence, background checks, and investigative link analysis to determine the connections between an arbitrator and one of the parties or counsel in the arbitration. This investigation will invariably help to…