Australia, June 7 -- New South Wales Land and Environment Court issued text of the following judgement on May 6:
1. The single issue in this case is when RD Beechworth Pty Ltd must repay the $2.5 million it received from each of the plaintiff companies, Long Spring Pty Ltd, and Forevet Flourish Pty Ltd, to assist it to purchase and develop two properties in Pymble, New South Wales.
2. There was no dispute that the plaintiffs loaned money to RD Beechworth after oral conversations between Mr Wei Shu, who controls the plaintiffs, and Mr Zhiyu Ning, who is one of the directors of RD Beechworth. There was also no dispute that, at the completion of the development, the plaintiffs would each receive 20% of any net profits through their sharehold...