Wonder if it's normal in China to underpay and/or delay payments to contractors - so the Chinese investors just brought their way of working to USA or if there's something else going on.
In Texas, when contractors work on a property, they are entitled to lien rights. Normally, property transactions involve a title company. One of their roles is to ensure the clearance of liens and manage the escrow of funds, transferring the purchase money from the buyer to the seller once they have established clear title. Additionally, they provide title insurance to the new owner, guaranteeing a title free from encumbrances like construction liens. This process is crucial for safeguarding the interests of all parties involved in property transactions.
Its hard to tell who is in the right without more facts. But it is clear the way the transaction was handled is part of the problem.
If engaging contractors in Texas for property work, get everything in writing and have an attorney familiar with construction law at the ready.
Sounds like a great way to get themselves black listed.
It sounds like the original owner's contractor is alleging that the Chinese investors are also not paying them for services at the mine, while the Chinese investors are claiming the contractor failed to deliver?
It's not really clear from the article who is even ripping who off to me.
Least scummy cryptocurrency story.