David Hsiu Sues Felix Chen

November 25, 2008

From:thedominican.net|Thompson Fontaine|

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Dominica's Ambassador to China, Mr David Hsiu has filed a libel claim in the High Court of Justice in Dominica against Mr Felix Chen, Chairman and President of Sino Union and part owner of the Clarke Hall Estate development.

Mr Chen’s plans to build a luxury hotel on the Clark Hall Estate through the company Shangri-la International of which Sino Union is a 40% shareholder and the Government of Dominica is a 51% shareholder, remain halted by litigation filed in the British Virgin Islands (BVI) by Rich Victory Investment Ltd., a company closely tied to Mr Hsiu.

Both Mr Hsiu and Chartered Accountant Kieron Pinard-Byrne, who was Shangri-la International's auditor, have filed affidavits in support of liquidating Shangri-la International, while the Government of Dominica has filed documents opposing liquidation. Shangri-la International’s liquidation would permanently halt Mr Chen's plans to develop this area. Mr Chen and Sino Union’s US$20 million investment in the future of the country stands to be lost.

The claim was filed on October 1st 2008, the same day Mr Chen held a press conference in Dominica to discuss the Layou River development.

“My sole aim and focus remains the development of Clarke Hall Estate and to work with the government of Dominica on this business venture. Our investment of US$20 million is evident of my commitment,” said Mr Chen, Chairman and President of Sino Union.

Mr Chen said that he will mount a vigorous defence to the claim. Mr Chen also observed that the creation of a luxury resort will bring badly needed jobs, foreign tourists and currency to Dominica.

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