Evergrande Founder’s Ex-Wife Sues Son Over $128 Million in Loans

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Evergrande’s wealth management unit ran into problems in 2021 after struggling to make payments on about 40 billion yuan of investment products

(Bloomberg) — The former wife of China Evergrande Group’s founder Hui Ka Yan has filed a lawsuit against his second son over HK$1 billion ($128 million) in loan payments, the latest twist in the slow unraveling of the property giant.

The lawsuit was filed in Hong Kong by Ding Yumei, who was listed by Evergrande as the spouse of Hui until August. She claims that the defendant Peter Xu failed to make payments for loans borrowed in June 2020, according to court filings.