January 6(UPI)-- China's Red Bull issued an announcement on the evening of January 5,2020, saying the Beijing Higher People's Court (2019)\" Civil Order No.4\" rejected the Thai side's (Thai Red Bull and Inte Bio) application for the Chinese Red Bull liquidation case and upheld the Beijing No.1 Intermediate People's Court (2019) Beijing No.01 Qingshen No.3's ruling. This ruling is final, i.e. has already had legal effect.
China's Red Bull said in its announcement that the judicial authorities confirmed, through rigorous legal procedures and comprehensive evidence, the legal existence of the company's benchmark facts; within the period of reasonable change of the legal license, all its production and operation rights are guaranteed according to law.
The ruling failed thai's forced liquidation of china's red bull, and the continued operation of china's red bull's normal production and operation system certainly greatly enhanced the confidence of china's red bull staff and partners.
Red Bull trademark rights and disputes began in 2014, Sino-Thai friction, the two sides escalated in 2016 and sued the court, the two sides around the joint venture duration, trademark, equity, bankruptcy liquidation and other mutual litigation more than 20. As China's Red Bull business license registration expired, the two sides broke out a fierce public opinion war. China's red bull filed an application for a change in its business license and said the legal-based cooperation period was \"50 years \", while thai tiansi tried to force china red bull to liquidate and find another partner in a short period of time.
On October 15,2018, Thailand's Red Bull and Inter Biological filed a legal procedure for compulsory liquidation of China's Red Bull with the Beijing No.1 Intermediate People's Court. In May 2019, the Beijing First Intermediate People's Court ruled that the application should not be accepted, and then the Thai side filed an appeal, until recently the Beijing High Court rejected its application.
Recently, Red Bull Vitamin Beverage Co., Ltd.(hereinafter referred to as \"our company \") received the Beijing Higher People's Court (2019) Jingqing end of the 4th Civil Order. The Court of Final Appeal held:\" Having shareholder qualification is the status premise for a company's shareholders to apply to the court to appoint a liquidation team to carry out mandatory liquidation of the company... The shareholder qualification of Red Bull Thailand Company and Inte Company is still in dispute, and the court of first instance has not accepted its application for compulsory liquidation as a shareholder correctly, which is in accordance with the spirit of the Supreme People's Court on the relevant judicial interpretation of compulsory liquidation of the company. Red Bull Thailand, Inte's grounds of appeal are not valid and its appeal is not supported by the Court.\" the result of the ruling was \"rejected (red cow thai company, inte company, our company note) and upheld the original ruling. This ruling is final.\"
1。 The judicial authorities, through rigorous legal procedures and comprehensive evidence, confirm the legal existence of the Company's benchmark facts. This ruling is hereby cited as a benchmark judicial document for the lawful existence of the Company.
3。 According to the judicial authorities of the People's Republic of China, the so-called shareholder qualification of Red Bull Thailand Company (full name Red Bull Vitamin Beverage (Thailand) Co., Ltd.) and Inte Company (all called Inte Biopharmaceutical Holdings Co., Ltd.) is in dispute and has not been confirmed. Subsequently, prior to a determination by the judicial authorities, any false use of the company's shareholder status in the regulatory body, other third-party institutions, industry market harm the company's production and operation rights, the company will defend the inherent rights according to law.
4。 China Red Bull has nurtured and guarded the functional beverage industry in China for nearly 25 years, not only relying on the majority of consumers to successfully build their own brand, but also promote the development and prosperity of an industry. Today, China's Red Bull industry chain relates to the employment of millions of people, making a long-term, sustained and stable contribution to the economic development of the industry and specific regions. The ruling of the Beijing Higher People's Court has inspired us, and we will continue to create value for shareholders, employees and partners, and continue to provide healthy, safe and high quality products and services to Chinese consumers.