UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 19, 2005
CHINA WORLD TRADE CORPORATION
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(Exact Name of Registrant as Specified in Charter)
Nevada
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(State or Other Jurisdiction of Incorporation)
000-26119
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(Commission File Number)
87-0629754
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(I.R.S. Employer Identification No.)
3rd Floor, Goldlion Digital Network Center
138 Tiyu Road East, Tianhe
Guangzhou, The PRC 510620
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(Address of Principal Executive Offices) (Zip Code)
011-8620-3878-0286
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(Registrant's Telephone Number, Including Area Code)
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Former Name or Former Address, if changed since last report
This Current Report on Form 8-K is filed by China World Trade Corporation,
a Nevada corporation (the "Registrant"), in connection with the matters
described herein.
Item 8.01 Other Events
The Registrant reports that a Complaint, dated December 10, 2004, styled as
Kenneth P. Silverman, Esq., as Trustee for the Estate of Chief Executive
Officers Clubs, Inc., Plaintiff vs. CEO Clubs China Limited, China World Trade
Corporation, Simon Guo and J.P. Li, Defendants (the "Complaint"), was filed and
has commenced an Adversary Proceeding relating to a bankruptcy case pending in
the U.S. Bankruptcy Court for the Southern District of New York, captioned as In
Re: Chief Executive Officers Clubs, Inc., Debtor. The Complaint, a copy of
which is attached hereto as Exhibit 10.1, alleges, among other things, that
certain assets of the Chief Executive Officers Clubs, Inc. bankruptcy estate
were transferred to the Registrant in violation of Section 549 of the Bankruptcy
Code. It requests that the Bankruptcy Court order, among other things, a return
of such assets by the Registrant and/or seeks a judgment against the Registrant
in the amount of not less than $480,000.00.
As previously disclosed in its filings under the Securities Exchange Act of
1934, as amended, the Registrant, on May 7, 2004, acquired 51% of the
outstanding capital stock of CEO Clubs China Limited, a Hong Kong corporation
("CEO Clubs China"), through one of its wholly-owned subsidiaries, for a total
consideration of cash and shares of common stock of the Registrant amounting to
US$480,000. CEO Clubs China is an authorized chapter to operate under the "CEO
Clubs" trademarks in the Greater China region, including the Peoples' Republic
of China, Hong Kong and Taiwan.
The Registrant is in the process of engaging counsel admitted to practice in the
U.S. Bankruptcy Court for the Southern District of New York, and intends to
vigorously defend the Adversary Proceeding and contest the allegations which are
contained in the Complaint.
The Registrant's counsel was first served with the Complaint on January 19,
2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHINA WORLD TRADE CORPORATION
By: /s/ Chi Hung Tsang
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Chi Hung Tsang
President
Date: January 21, 2005
EXHIBIT INDEX
Exh. No. Description of Exhibit
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10.1 Complaint, dated December 10, 2004