Chinese Firm Initiates Sale of Evergrande Founder's Hong Kong Property to Settle $685 Million Debt

Wednesday, 26 June 2024, 10:31
A Chinese company demands the sale of Hui Ka-yan's Kowloon home as part of efforts to address a significant $685 million debt. By resorting to this measure, the company aims to partially alleviate its financial liability. This action reflects the ongoing challenges and repercussions faced by Evergrande's founder in managing the debt crisis.
South China Morning Post
Chinese Firm Initiates Sale of Evergrande Founder's Hong Kong Property to Settle $685 Million Debt

Chinese Company Demand

A Chinese firm has initiated the process to sell Hui Ka-yan's property to resolve a substantial debt.

Debt Settlement

The sale of the Kowloon home is intended to partially cover the $685 million outstanding debt.

  • Financial Measure: Selling the property is a strategic move by the firm to address its financial obligations.

This action highlights the intricate financial situation surrounding Evergrande's founder and the significant debt facing the company.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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