VisionChina Held In Contempt Over $60M Payment In PE Suit

Law360, New York (January 7, 2013, 6:20 PM EST) -- A New York state judge held Chinese digital advertising company VisionChina Media Inc. in contempt Monday for not trying to transfer $60 million out of China in a contract dispute with a pair of private equity firms over VisionChina's 2010 purchase of rival Digital Media Group.

Judge Charles E. Ramos said at the conclusion of a hearing that without testimony from key players at VisionChina's Chinese operating company attesting to any efforts they made to comply with his June order to bring $60 million to New...
To view the full article, register now.