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Xu Jiayin's $2.3 Billion Overseas Trust Placed Under Administration: Lawyer Analysis
Summary by 大纪元 Epoch Times
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The Hong Kong High Court recently authorized Evergrande's liquidators to take over Xu Jiayin's assets, including those held in his offshore family trusts. This move signals a breach in Xu Jiayin's $2.3 billion "safe house" of overseas assets.
Newtalk News China Evergrande Group founder Xu Jiayin's hopes of preserving his wealth in an overseas family trust have been shattered by a recent ruling from the Hong Kong High Court. The court recently ruled that liquidators must not only take over all of Xu Jiayin's assets, but also liquidate assets held in offshore trusts, totaling US$7.7 billion. According to Zhixin News, after the verdict was announced, the liquidation team immediately lau…
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