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Nutryfarm satisfied with new executive chairman despite him facing 18 lawsuits in China
Its nominating committee said Wu genuinely believes he is not at fault, and that there is no commercial ambiguity on whether he should assume partial or full liability even though the judgements of these cases have not been executed.
"Accordingly, he claims to have made contributions which he has deemed fair and equitable to the satisfaction of some of these judgements. As such, no further action has been taken by the creditors and/or the courts against him."
