AMSTERDAM (Reuters) -Chinese semiconductor company Wingtech has appealed to the Dutch government to rescind its decision to take control of its Netherlands-based computer chip subsidiary Nexperia,
Wingtech Appeals Dutch Ruling on Nexperia Ownership Control
AMSTERDAM (Reuters) -Chinese semiconductor company Wingtech has appealed to the Dutch government to rescind its decision to take control of its Netherlands-based computer chip subsidiary Nexperia, documents seen by Reuters show.
Wingtech first challenged the decision on October 21 and broadened its complaints on November 10, the documents showed.
In the appeal, lawyers for Wingtech urged the Ministry of Economic Affairs to revoke the order, which they said was an unprecedented and disproportionate "deprivation of property" that lacked a legal basis.
The Dutch government suspended its intervention at Nexperia on Wednesday, after what it said were constructive talks with China over a dispute which has led to shortages of chips needed by car manufacturers.
But it did not revoke the September 30 decision, a move it said had been necessary to prevent the company's former CEO from moving European operations to China from its current base in the Netherlands.
China's commerce ministry said the Dutch move fell short of fully ending its intervention as it had demanded.
Wingtech and Beijing have also called on the Dutch government to withdraw from a separate court case alleging mismanagement at Nexperia.
Other documents seen by Reuters show that Dutch Economy Minister Vincent Karremans shortly after his intervention had urged the court to act swiftly to prevent Nexperia assets being moved to China.
In a letter to the court, lawyers for the state said there was a considerable risk Wingtech would not adhere to the government's intervention.
The court in October ordered the removal of ex-Nexperia CEO and Wingtech founder Zhang Xuezheng for mismanagement.
(Reporting by Toby Sterling and Bart Meijer; Editing by Emelia Sithole-Matarise)
