Bank accounts of a Guangzhou-based pharmaceutical company were unfrozen by Qianhai Cooperation Zone People’s Court on Feb. 27, enabling the company to resume normal medical supplies production during the COVID-19 fight.
The company is responsible for the production of anti-epidemic supplies for Guangdong Province. However, it found itself entangled in a dispute, resulting in the four bank accounts containing tens of millions yuan getting frozen by the court, seriously affecting the company’s production and operations.
The company applied to take one of its own plants as a guarantee and requested the collegiate bench to unfreeze its accounts.
After discussing the application with the plaintiff, following the Supreme People’s Court’s instructions to maintain the anti-epidemic unit’s normal production and operation, the collegiate bench approved the application and immediately sent the civil ruling paper to the Qianhai court for enforcement.
The company's plant for guarantee replacement is located in Guangzhou. According to regulations, the seal-up procedures need to proceed at the city where the property is located.
Considering the important role the company plays in the epidemic fight, the executive board of the Qianhai court immediately assembled staff to drive to Guangzhou and complete the procedure within 3 hours, enabling the company to resume production as quickly as possible.
Currently, the company’s money in the four bank accounts are used for the purchase and production of anti-epidemic materials.
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