Taishin withdraws case against Ministry of Finance

The two parties have reached an agreement after Taishin in 2014 alleged the ministry had broken a contract regarding board seats at Chang Hwa Bank

  • By Kao Shih-ching / Staff reporter

Taishin Financial Holding Co (台新金控) has settled a dispute with the Ministry of Finance over the management rights in Chang Hwa Bank (CHB, 彰化銀行) and withdrawn its Supreme Court case against the ministry, the company said yesterday.

“We have filed a notice of withdrawal with the Supreme Court, after the ministry and Taishin obtained a satisfactory consensus thanks to the coordination of the Supreme Court judges and mediators,” Taishin Financial president Welch Lin (林維俊) told a news conference at the Taiwan Stock Exchange in Taipei.

The dispute began when Taishin Financial filed a lawsuit against the ministry in December 2014, alleging that it had broken a contract they signed in 2005 about the allocation of board seats at the bank.

Photo: screengrab from the Internet

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