Wingtech contests Nexperia's rulings in the Supreme Court of the Netherlands
Wingtech's Legal Appeal: China's Wingtech has appealed to the Netherlands' Supreme Court against decisions that stripped it of control over its Nexperia chipmaking subsidiary, following a Dutch government intervention citing concerns over intellectual property transfer to China.
Dispute Background: The conflict began when the Dutch government moved to seize control of Nexperia on September 30, leading to the suspension of its former CEO and placing the company's shares under a Dutch lawyer's control due to allegations of mismanagement.
Impact on Chip Production: The ongoing struggle for control of Nexperia is causing disruptions in chip production, which is critical for the automotive industry, as shortages of these chips continue to threaten output.
Operational Changes: Nexperia, which primarily manufactures wafers in Europe, has halted shipments to China due to nonpayment issues, while its Chinese operations are functioning independently.
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