KMT squatted on public plot in Taipei
The Chinese Nationalist Party (KMT) squatted on a piece of public assets in Taipei’s Zhongshan District (中山), earlier than obtaining and later selling it for income, the Ill-gotten Party Assets Settlement Committee said the day gone by.
Citing its research, the committee said the property at 6 Quanzhou St, which now homes a 12-story condo, became seized in 1945 by using the Republic of China authorities from Heihachiro Ishikuro, a Japanese citizen.
The KMT Department of Nautical Enterprises and Sailors started occupying the belongings illegally in 1950, and in 1957, the party reached an agreement to start paying hire to country-owned Land Bank of Taiwan, which managed residences and establishments seized from Japan, even though it best paid the rent for the primary 3 months of 1957, the committee said.
The bank instructed the KMT that it’d “reluctantly permit” the KMT to pay the debt of NT$ forty-nine,390 (US$1,572 at the current change charge) in installments as a condition for persevering with the rent, the committee said.
The KMT refused to pay the installments, announcing that there had been cash go with the flow issues with department and it couldn’t guarantee that the department would meet its duties, the committee said.
After the financial institution threatened to sue to evict the KMT and foreclose on the property, the KMT ultimately agreed to make an offer a guarantee thru its then-Finance Committee chairman Hsu Po-yuan (徐伯園), paying the hire arrears in installments of NT$three,000 over 17 months in 1961 and 1962, the committee said.
The KMT in 1971 bought the land and the structure for NT$2.58 million, and in a chain of transactions among 1999 and 2002, bought them to a 3rd birthday celebration for an undisclosed sum, it stated.
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