Thundersky/Winston versus Sinopoly legal dispute

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http://www.examiner.com/rving-in-national/sinopoly-battery-accuses-winston-chung-of-fraud

Sinopoly Battery accuses Winston Chung of fraud
Julian Gothard
RVing Examiner
August 8, 2011
The Chinese opera featuring Sinopoly Battery Ltd (中聚電池有限公司) and lithium-ion battery inventor Winston Chung Hing Ka – Chairman of US-based MVP RV and Balqon Corporation (OTC: BLQN) - an EV manufacturer - has provided a scintillating new act packed with accusations of corporate skulduggery of which the Beijing opera themselves would be proud. Sinopoly (HKG:0729), in an effort to tackle a HK$2.8 billion loss for the year ended March 31 and raise money to finance new battery production (in Liaoyuan and Tianjin), announced last week that they had placed 700,000,000 shares at a price of HK$0.52 per share with Guotai Junan Securities (Hong Kong) Limited. The share sale – which represents approximately 6.80% of the existing issued share capital of the Company – could raise as much as HK$364 million (HK$358.9 million after placing commission).

Inventor and entrepreneur Winston Chung has been embroiled in civil litigation with Sinopoly Battery since March 12th – Chung was fired by the company on March 8th. According to Sinopoly, not only was Winston Chung – a former Director and majority shareholder in Sinopoly - involved in a number of illegal share sales but his PRC based manufacturing companies were said to be guilty of violating an exclusive patent licensing agreement between Chung and Sinopoly Battery. Such impropriety was considered so egregious that not only was Chung fired by Sinopoly but both he, his PRC companies, and the right to use his lithium phosphate (LiFePO4) patents became the subject of a legal challenge in the High Court of Hong Kong.

Also, seen on the EVDL here:
http://electric-vehicle-discussion-...t-jzhao-sinopolybattery-com-gt-tt3815488.html

Sep 15, 2011; 9:01am
Lawrence Rhodes
Fw: Sinopoly Battery Ltd. /lithium battery & who is: jzhao <jzhao@sinopolybattery.com>

I recieved this from Jzhao. He says Thundersky is no more and the new company
infringes on Sinopoly Battery Ltd.. Please comment. Lawrence Rhodes...


>
>----- Forwarded Message ----
>From: jzhao <[hidden email]>
>To: primobassoon <[hidden email]>
>Sent: Wed, September 14, 2011 7:37:06 PM
>Subject: Sinopoly Battery Ltd. /lithium battery
>
>
>Dear Sir,
>
>Im Davidfrom Sinopoly Battery Limited (Sinopoly).
>
>Sinopoly costed HK$2.75 billion to purchase Thunder Sky Battery Limited in 25th
>May, 2010.
>
>
>Regarding the Announcements, please visit the vents "Dec 2009, The Company
>entered into a letter of intent to purchase a lithium battery project for
>HK$2.75 billion" and "May 2010, The Acquisition in relation to the lithium
>battery project is completed" of following link,
>http://www.sinopolybattery.com/html/about_investor.php
>
>Thunder Sky changed its name as Winston Battery Limited and still sell LiFePO4
>battery. As this action has deeply infringed on our company's related benefit,
>Sinopoly prosecuted Winston and recommend all the customers to stop purchasing
>Winston battery.
>
>Regarding Sinopoly Company presentation and more introduction, please visit our
>web site.
>Quick link
>http://www.sinopolybattery.com/html/about_profile.php
>
>I am engaged in this field for more than 5 years. My customers are all over the
>worlds.
>
>My Business Aim is: cooperate sincerely, manufacture meticulously, improve
>continually and blaze new trails constantly. So I will try all my best to serve
>you with my great passion and perfect skill.
>
>Sinopoly continually improves the technology, production facilities, production
>method, productivity, product performance, after service etc.
>
>
>Sinopoly has a production base in Liaoyuan city (northwest of China). We are
>establishing other two bases now, one is in Tianjin city, and another is in
>Nanjing city.
>
>Now our productivity is 700 million Ah per year. Our goal is
>Year 2012, 0.2 billion Ah per year
>Year 2013, 1.5 billion Ah per year
>
>Sinopoly LiFePO4 battery is with many perfect advantages including absolute
>safety, 100% A-class quality, lower internal resistance, stable performance,
>long cylce life, good discharge performance in low temperature (more than 90%
>efficiency at -20℃), high consistency etc.
>
>Now our LiFePO4 battery models include
>10/15/20/40/60/90/100/180/200/260/300/400/700/1000Ah.
>
>10/15/20Ah cells are lithium polymer. 40Ah to 1000Ah are prismatic.
>
>Safety Test Video
>http://www.sinopolybattery.com/html/products_testings.php
>Including: Gun shot, Short Circuit, Burning in the fire, High Temperature at
>85℃, Drop, Extrusion, Penetration, Vibration
>
>Compare to other EV batteries, we offer:
>High energy density ~116 wh/kg
>Extended life cycling >3000 times (80% DOD)
>Impressive quick charge 20 minutes
>Excellent safety performance Never explode from short circuits or overheating
>Wide usable range 40AH – 10000AH
>
>If you have the interest in our company products or any questions, please feel
>free to contact with me. I’d like to send you our company presentation, battery
>test reports, CE Certificate and other certificates.
>
>Best Regards
>David
>Tel: +86 755 8627 1913begin_of_the_skype_highlighting +86 755 8627
>1913 end_of_the_skype_highlighting |Fax: +86 755 8627 1909
>Email: [hidden email]
>Skype: sinopoly.david
>
>Sinopoly Battery Limited
>Address: Room 1001, 10th Floor, Coastal Building (East Block), 15 Haide Road 3,
>Nanshan, Shenzhen, China
>Web: http://www.sinopolybattery.com/

Hmmmm...

l0cK

 

[amberwolf]

Yes, Sinopoly (short for Sino Monopoly? :lol has been posting about their problems in the guise of "for sale" posts all over the web at many EV forums. There was one here, too, but it was removed because it wasn't really about selling stuff, but about dissing the other company.