Former Taiwan Sugar chairman ordered detained for owing $5.3 million

A court has ordered the detention of Wu Nai-jen, former chairman of Taiwan Sugar Corporation (TSC), for his failure to repay a substantial debt of NT$170 million (approximately $5.3 million USD).

The debt originated from a land sale transaction during Wu's time as chairman, which led to his conviction for breach of trust. While he served a prison sentence for that offense, the civil matter of the debt remained unsettled.

TSC sought enforcement of the debt, citing Wu's continued lavish lifestyle, including dining at high-end restaurants and using luxury vehicles, as evidence that he was not genuinely unable to pay. This, they argued, violated enforcement laws.

Wu, accompanied by his lawyer, appeared in court and claimed his living situation was modest, stating he resided in his son's property and relied on his children for care due to Parkinson's disease. He expressed willingness to negotiate a repayment plan.

However, the court found that Wu had not provided a complete and truthful report of his financial status within the past year, as required by law when a debtor's assets are insufficient to cover the debt. Despite his expressed willingness to negotiate, no concrete repayment proposal was presented. Consequently, the judge ruled to grant the detention, citing insufficient assets to cover the debt and Wu's repeated failure to comply with reporting obligations.

The detention order can last for a maximum of six months, according to the Code of Compulsory Enforcement. Wu has the right to appeal the ruling.