© Reuters. The firm emblem is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo/File Photo
2/2
HONG KONG (Reuters) – Two luxurious houses in Hong Kong owned by the chairman of embattled property developer China Evergrande (HK:) Group, Hui Ka Yan, have been seized by a creditor, native media outlet HK01 reported on Wednesday.
The properties, situated in The Peak, one of the prestigious neighborhoods in Hong Kong, are valued at greater than HK$1.5 billion ($192 million), and might be formally taken over by the creditor inside days. An unidentified creditor submitted related paperwork on Tuesday, mentioned the report, with out specifying the supply of its info.
Hui owns the 2 luxurious houses in The Peak, which had been pledged to Orix (NYSE:) Asia Capital Ltd in November 2021 for undisclosed quantities, in accordance with the Land Registry.
Orix’s spokesperson didn’t instantly reply to telephone and electronic mail queries from Reuters, and Evergrande didn’t instantly reply to a request for remark.
Another of Hui’s houses subsequent to the 2 mansions was seized by China Construction Bank (OTC:) (Asia) in November final yr.
Evergrande is preventing a winding-up petition and has till Dec. 4 to unveil a concrete new restructuring proposal to keep away from liquidation.
The group’s primary belongings in Hong Kong – its headquarters and an enormous plot of rural land – had been seized by collectors final yr, after the corporate defaulted on public money owed as a result of a money crunch.
($1 = 7.7949 Hong Kong {dollars})
