International commercial court has first hearing
Judicial professionals applauded the first public hearing by a court established to hear international commercial disputes as a “landmark step” to showcase China’s judiciary to the world and improve its global credibility.
The trial focuses on a shareholder dispute related to Red Bull, a popular energy drink that originated in Thailand, and opened on Wednesday at the No 2 International Commercial Court in Xi’an, Shaanxi province.
Ruoychai International Group Co from Thailand alleged it had entrusted 7 percent of equity of Red Bull to Inter-Biopharm Holding Limited. Ruoychai has now demanded the equity be transferred under its name.
The court did not give a ruling on May 29.
News from: Supreme People’s Court of the People’s Republic of China. http://english.court.gov.cn