A rapid response to the filed request for a Temporary Restraining Order against the public auction of Sea Passion shares was granted by the Court yesterday to Mr. Chiu Hung-Chao and his family, the Intervenors to the Civil Action No. 18-098. The Order issued by Associate Justice Kathleen Salii, granted the TRO and set a […]
Tag: Sea Passion Group
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Sea Passion chairman moves to block public sale of stocks
Sea Passion Chairman and CEO Chiu Hung-Chao, through his attorneys, moved to intervene in the public sale of 42% of Sea Passion shares saying that his family is the sole owner of Sea Passion Corporation. On Wednesday, Sea Passion Chairman Hung-Chao also filed Temporary Restraining Order (TRO) and Preliminary Injunction to stop the public sale […]
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Sea Passion shares up for sale for over $900k
Forty-two percent (42%) of the shares of Sea Passion Corporation worth nearly a million dollars USD will be auctioned off on June 5th at 9:30am at the Office of the Director of Public Safety in Koror, Palau. Six (6) Defendants holding 42% of the total shares of Sea Passion Corporation will have their shares publicly […]
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Palau to face US$2-M Monthly Loss Over Airline Crisis
Palau may face an income shortfall of up to $2 million each month after the country`s largest tourist airline, Palau Pacific Airways, announced that it will indefinitely suspend its operations and terminate the lease of its only airplane. Economic pressure from communist PRC Chinese authorities, who are enforcing a blacklist banning mainland Chinese travel agencies […]