Hong Kong Court Freezes $24 Million in U.S. Assets Tied to Ex-Evergrande CEO
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Xia Haijun, former chief executive of China Evergrande Group
A Hong Kong court has ordered the freezing of $24 million in U.S. assets held by the wife of Xia Haijun, the former China Evergrande Group Chief Executive, marking a victory for liquidators seeking to recover billions from the collapsed property giant.
The ruling, issued in early August by Justice Coleman of the Hong Kong High Court, strengthens efforts to claw back funds for creditors as China Evergrande faces imminent delisting from the Hong Kong Stock Exchange on Aug. 25.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- A Hong Kong court froze $24 million in U.S. assets linked to the wife of ex-Evergrande CEO Xia Haijun, aiding liquidators' efforts to recover $6 billion for creditors.
- Frozen assets in California include three luxury properties and four vehicles, with one villa bought for $14.5 million after Evergrande's crisis began.
- Xia was deemed uncooperative and a flight risk; liquidators now seek U.S. court recognition of the injunction.
AI generated, for reference only
Who’s Who
- China Evergrande Group
- China Evergrande Group, a collapsed property giant, faces imminent delisting from the Hong Kong Stock Exchange. A Hong Kong court has ordered the freezing of $24 million in U.S. assets belonging to the wife of former CEO Xia Haijun, as liquidators seek to recover billions. The company was ordered into liquidation in January 2024, and liquidators are trying to claw back $6 billion from several defendants.
- Hong Kong High Court
- The Hong Kong High Court, through Justice Coleman, issued a ruling in early August to freeze $24 million in U.S. assets belonging to the wife of Xia Haijun, former Evergrande CEO. This strengthens efforts by liquidators to recover funds for creditors from the collapsed property giant. The court also ordered Evergrande's liquidation in January 2024.
- Hong Kong Stock Exchange
- The Hong Kong Stock Exchange is poised to delist China Evergrande Group on August 25. This follows a Hong Kong court ordering the company into liquidation in January 2024. Liquidators are actively working to recover funds from former executives and their associates.
- Bloomberg
- Bloomberg reported that Ding Yumei, former Evergrande chairman Hui Ka Yan's ex-wife, is subject to asset freezes in Hong Kong and the U.K. A British court approved a monthly living allowance of up to £20,000 (about $27,000) for her.
AI generated, for reference only
What Happened When
- December 1, 2023：
- The “New Life Trust,” a revocable trust with He as sole trustee, was formed.
- December 2023：
- A six-bedroom villa in Newport Coast was purchased for $14.5 million by Xia's family through the “New Life Trust.”
- January 2024：
- Evergrande was ordered into liquidation by a Hong Kong court.
- Early August 2025：
- A Hong Kong court, Justice Coleman presiding, ordered the freezing of $24 million in U.S. assets held by Xia Haijun's wife.
AI generated, for reference only
- CX Weekly Magazine
Aug. 15, 2025, Issue 31
- Discover more stories from Caixin Weely Magazine.
- Read More>>
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新