Xiong Wei & Anor v Wang Junhong

Facts

The claimants were Wenda Co Ltd, a Chinese company manufacturing and trading in food ingredient chemicals, and its founder and chairman, Mr Xiong Wei. They sought to enforce at common law in England a judgment of the Intermediate People's Court of Dalian City, Liaoning Province, ordering the defendant, Ms Wang Jinhong, to pay Wenda US$2,129,116 plus interest. Ms Wang had been Wenda's chief financial officer from 2004, acquiring about 9% of its shares and becoming a director in 2009, and remaining a director and senior employee until 2018. In 2012 Wenda incorporated an English subsidiary, Syner Ltd, to access invoice-based financing, with Ms Wang as its sole director. A Share Transfer Agreement dated 1 March 2016 provided for the Syner shares to pass to her against payment of Syner's net equity value, but in late September 2017 she registered herself as sole shareholder without paying anything. The Chinese proceedings, a derivative claim brought by Mr Xiong for Wenda's benefit, succeeded at first instance on 19 April 2021; the Liaoning High Court dismissed her appeal on 11 November 2022 and refused a retrial. The claim form was issued on 3 June 2024. Ms Wang resisted enforcement on finality and natural justice grounds.