Gov’t tightens State corporations’ investments (Vietnam Net)

VietNamNet Bridge – The Vietnamese Government has required State corporations to spend at least 70 percent of their total investment on their major industry and refrain from investing in such “sensitive fields” as securities, banking or insurance.

Source:Gov’t tightens State corporations’ investments (Vietnam Net)

More lawsuits filed against Wildwood Industries

Civil lawsuits seeking back rent and the return of manufacturing equipment are stacking up against Bloomington manufacturer Wildwood Industries.

Three new lawsuits have been filed in recent weeks against Wildwood and owners Gary and Toni Jo Wilder.

On Tuesday, GCI Capital Inc. filed two civil actions accusing Wildwood of failing to make payments on trucks, trailers and other equipment. The Minnesota firm seeks $3.9 million from Wildwood Industries, Wildwood Logistics Inc. and the Wilders. The money represents the value of the multi-year lease agreement, said court documents.

According to the lawsuit, Wildwood stopped making payments in November on the equipment used in the production of vacuum cleaner bags and carpet and upholstery and steam cleaning machines.

A second suit filed this week by GCI asks for $5.2 million related to equipment rental from the firm headquartered at 903 Morrissey Drive, Bloomington.

Carlton Financial Corp. also put its $7.7 million request on file against Wildwood this week for similar equipment rental claims.

Other pending lawsuits against Wildwood include two equipment rental claims totaling $1.6 million.

Gary Wilder did not return calls Thursday for comment on the new claims against the firm.

In October, Wildwood Industries halted construction on a 500,000-square-foot building located at Main Street and Kerrick Road in Normal.
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The $45 million project is the focus of a lawsuit filed by Wildwood in November against an investment company. The Wilders argue they do not owe fees to Wexford Investment Group of Morton Grove for work related to financing for the Normal warehouse.

Work also was shut down in July after an iron worker was killed in a job-related accident. A wrongful death lawsuit is pending against Johnston Contractors, general contractors for the project.

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