Hong Kong Court Freezes $24 Million in U.S. Assets Tied to Ex-Evergrande CEO
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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.
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- A Hong Kong court froze $24 million in U.S. assets held by Xia Haijun's wife, aiding Evergrande liquidators’ $6 billion recovery efforts.
- The assets include three luxury California homes worth over $24 million and four vehicles; the freeze targets potential asset dissipation.
- Liquidators must seek a U.S. court’s recognition, and similar injunctions have targeted other Evergrande insiders amid its liquidation and imminent delisting.
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Who’s Who
- China Evergrande Group
- A Hong Kong court has ordered the freezing of $24 million in U.S. assets belonging to the wife of China Evergrande Group's former CEO, Xia Haijun. This action supports liquidators' efforts to recover funds from the collapsed property giant. Evergrande was ordered into liquidation in January 2024, and liquidators are seeking to recover $6 billion in alleged misstated financial results from 2017 to 2020.
- Tesla
- Three Teslas were among the assets frozen in California as part of the legal actions against Xia Haijun, the former China Evergrande Group Chief Executive, and his wife. The frozen assets also include high-end properties in Irvine and Newport Coast.
- Mercedes-Benz
- A Mercedes-Benz SUV is listed among the assets frozen by a Hong Kong court in asset recovery proceedings against the wife of Xia Haijun, former CEO of China Evergrande Group. The vehicle is located in California, USA.
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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.
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- CX Weekly Magazine
Aug. 15, 2025, Issue 31
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