Reporter:
"He transferred my 35 percent of the shares. None of my stock was left."
According to the register at the local industry and commerce department, in February 2005, the shares under Gao's name were transferred twice. First, 5 percent went to Yao, and then 30 percent went to a man named Song Yuxian, who was Yao's brother-in-law. Yao admitted that he had signed the documents.
"I thought I was left with no other choice. So I adopted inappropriate tactics to pay her back in her own coin."
Yao said he had no alternative. He said when they founded the company in 1996, they didn't have enough money on hand. He borrowed money from his older sister, rendering Gao only a nominal shareholder.
"At that time, the local industry and commerce bureau required that limited-liability companies should have two or more shareholders. So she held 20 percent under her name."
When the company increased their investment in 2002, Yao said that he again borrowed the money -- 1.6 million yuan. The ratio of the stock ownership shifted to 65:35. Yong Shaohua was the lawyer who acted as Yao's procurator.
"It doesn't really matter who owns 80 percent and who owns 20 percent. Or it might as well be 30 percent or 40 percent. The ratio was just a number written down conveniently at the moment."
When the couple was getting along, Yao had never paid attention to the shares. But when Gao applied for a divorce, Yao began to realize that their break-up might not be simple. So while trying to appease his wife on the surface, he pressed on with his own plan in private.
"You didn't spend a cent, yet you wanted to get a large share once we divorced and our property was divided up. All right then, I will also resort to unlawful means to take away your shares."
Yao's lawyer, Yong Shaohua, explains Yao's motive.
"Since the company was founded, Yao was the one who took care of the operations. So when their mutual affection was no longer there, he felt his efforts were in vain, as his wife would surely take away a large amount of shares. To guarantee the company's continued operation, he decided to transfer the shares."
Thus, Yao signed the shares over to his own family and altered the local industry and commerce register.
As we mentioned earlier, the handwriting were verified to be forgery. With both sides rattling their sabers, a war to divide both the family property and the company assets was on. In early 2006, Yao lodged a lawsuit for divorce. Later, Gao also took legal proceedings and asked the court to nullify stock transfer. In June 2007, the court ruled, granting the divorce and dividing internal family property evenly. Two months later, the case concerning the disputed stock also reached a verdict.
The stock transfer was ruled invalid. Now that they were divorced, although Gao's status as a shareholder of the company was affirmed by the law, it was impossible for them to work together. But dividing the company's assets grew complicated.
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