2009 top ten news

Top 10 real estate debacles 2009

(chinadaily.com.cn)
Updated: 2009-12-18 11:10

1. 'Nail' employed for anti-demolition

Top 10 real estate debacles 2009
Lu Daren is employed by a restaurant owner as "anti-demolition nail" to help stop her business from being demolished.

Qin Rong, owner of a restaurant near the east gate of the National Olympic Sports Center in Beijing, hired an "anti-demolition nail" to help stop her business from being demolished.

Qin said she had signed a three-year contract for the lease of the restaurant and has spent 600,000 yuan on the decoration and promotion since it opened in July 2008. They were seeking compensation of at least 400,000 yuan before they would agree to move out.

The 'nail', Lu Daren, a former construction contractor, was paid 1,000 yuan per month and a bonus of 2 percent of any compensation received.

Lu brought his luggage, including a thick green military-style overcoat, and said he would stay in the restaurant 24 hours a day. "If the negotiation fails and they want to demolish by force, I might buy 10 or 15 gas cylinders and scatter them throughout the restaurant," said Lu.