Posted by: 1of10boyz | March 18, 2013


Rule of Law. Never really thought about it until I came to China. They really don’t get it.

China Daily Mail

Up to $400 million in royalty and purchase payments due to Queensland mining magnate Clive Palmer are in dispute and have not been paid, as a rift widens between him and China’sCitic Pacific, the builder of the troubled $US8 billion ($7.8bn) Sino Iron project in Western Australia.

Hong Kong-listed Citic has said it is reassessing a $HK1.52bn ($190m) penalty payment that it is due to pay Mr Palmer next month.

It has also said another payment of between $US100m and $US200m announced last year has not been made because of a dispute over Sino Iron that is heading for a showdown in the West Australian Supreme Court.

The two issues, which are in addition to a previously reported court tussle between the two over when royalty payments would start, multiply by many times the $4m or so at stake in that dispute, which came to light…

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Responses

  1. You might wonder why the Consulates and Embassies in China are staffed by a large number of legal professionals. This article might enlighten some on the challenges China faces in dealing with the rest of the world. The Rule of Law is not a simple process. That is something not to forget if you ever decide to do business here in China.


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