Yihe founder Steve Chen has regained control of his California-based frozen seafood company after United States District Court Judge Frederick F. Mumm approved ending the company's four month receivership from Resource One Holdings.
According to court documents, Yihe has paid back the debt owed and agreed to terms with Resource One and its other creditors, Qingdao Yijia Native Imp. & Exp. Co., LTD (Yijia) and Tiger Bay Village Corporation.
The judge also ordered the discharge of James Wong, the court-appointed receiver, directed the disbursement of funds and turnover of books and records back to Chen.
Court
