Sham loan trumps statutory demand, judge rules
Attempt to recover money in failed investor visa scheme stymied by fake transaction.
Taihe Innovation Management sole director Lei 'Andy' Zhang.
A loan agreement designed to conceal ownership of shares in a listed company may have been a sham, the High Court has ruled, so a statutory demand for repayment must be set aside.
The case involving two companies, Taihe Innovation Management and Maryland Bassett, relates to efforts by unsuccessful
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