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Evergrande Liquidators Reportedly Seek to Clarify Hui Ka Yan's Assets for Fund Recovery
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At a court hearing held in Hong Kong on Tuesday (2nd), the liquidators of China Evergrande, which was delisted at the end of last month, will set their sights on the group's founder, Hui Ka Yan, Bloomberg reported. Although Hui is unlikely to attend the hearing, he remains a key figure in the case. It is understood that the liquidators are seeking to recover USD6 billion in dividends and compensation from several defendants, including Hui. Evergrande previously said that this figure is based on misreported financial statements for FY17 to FY20. The liquidators are also seeking to clarify Hui's asset situation, which he has so far refused to disclose. If the liquidators can persuade the court to compel him to reveal his assets, a fortune equivalent to one-eighth of Evergrande's preliminary estimated total debt of USD45 billion could be brought to light. The liquidators are said to have been reviewing documents and examining thousands of entities related to Evergrande, searching for possible ways to recover funds. AAStocks Financial News |
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