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Wingtech says it will appeal against Dutch court order in Nexperia dispute

By Reuters News

BEIJING, Nov 15 (Reuters) - Wingtech Technology 600745.SS will appeal against a Dutch court's interim ruling in a dispute over control of its chipmaking subsidiary Nexperia, according to a filing to the Shanghai Stock Exchange on Sunday.

  • The dispute was triggered when the Dutch state took control of Nexperia in September last year, citing worries about the possible transfer of technology from Dutch chipmaker Nexperia to Chinese parent company Wingtech

  • The Dutch government stepped back from its intervention in November last year, but the dispute has since led to litigation in both the Netherlands and China

  • Last week, the Enterprise Chamber of the Amsterdam district court ordered additional measures to protect Nexperia from interference by Wingtech

  • It ordered Wingtech, founder Zhang Xuezheng, Nexperia China and others in Wingtech's leadership to refrain from interfering with Nexperia's normal business activities

  • Wingtech said in the stock market filing on Sunday that the decision lacked a factual and legal basis and improperly interfered with ongoing judicial proceedings in China

  • Wingtech added that the court had also ordered it to withdraw parts of a lawsuit filed in China this year

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