Wingtech Sues Nexperia for $1.18B

China's Wingtech has filed a lawsuit against its Dutch chipmaker subsidiary, Wingtech — Nexperia, and five other entities, seeking 8 billion yuan ($1.18 billion) in compensation for economic losses. Wingtech alleges that its control over Wingtech — Nexperia remains restricted due to 'discriminatory restrictive measures' by the Netherlands government and Wingtech — Nexperia's cooperation with these actions. The lawsuit, filed in the China — Shenzhen Intermediate People s Court, demands Wingtech — Nexperia withdraw Dutch court proceedings, persuade the Netherlands — Ministry of Economic Affairs and Climate Policy to revoke a ministerial decree that previously seized control of Wingtech — Nexperia, and transfer ownership of Wingtech — Nexperia-related subsidiaries back to Wingtech. Wingtech — Nexperia denies intending to harm Wingtech's interests, stating its actions were to stop severe mismanagement and urging open dialogue. This dispute follows a previous intervention by the Netherlands government citing national security concerns and an international arbitration sought by Wingtech for up to $8 billion in damages.