Hong Kong Court Puts Evergrande Liquidators in Charge of Founder Hui’s Fortune
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A Hong Kong court has ordered China Evergrande Group chairman Hui Ka Yan —whose name is Xu Jiayin in Mandarin — to relinquish control of his worldwide assets to the property developer’s court-appointed liquidators, intensifying a complex, years-long effort to recover billions for creditors.
According to a court document dated Sept. 16, the High Court designated Tiffany Wong and Edward Simon Middleton of Alvarez & Marsal Inc. as receivers for all of Hui’s personal assets and as managers of his business interests. The ruling also appointed a legal supervisor to oversee the enforcement of the order.
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- A Hong Kong court ordered Evergrande chairman Hui Ka Yan to surrender global assets to court-appointed liquidators to recover creditor funds.
- Receivers can now investigate and control Hui’s worldwide holdings, including assets in offshore trusts, after Hui failed to comply with asset-disclosure orders.
- This move preserves but does not permit sale of the assets; further legal action is needed for final debt recovery and ownership rulings.
- China Evergrande Group
- A Hong Kong court ordered the chairman of China Evergrande Group, Hui Ka Yan, to relinquish control of his global assets to court-appointed liquidators. This follows a liquidation order against Evergrande on January 29, 2024, after it defaulted on offshore debts. The ruling strengthens liquidators' ability to recover billions for creditors amidst concerns Hui may be concealing wealth.
- Alvarez & Marsal Inc.
- Alvarez & Marsal Inc. is a company whose representatives, Tiffany Wong and Edward Simon Middleton, have been appointed by the Hong Kong High Court as receivers for all of Hui Ka Yan's personal assets and managers of his business interests. This appointment is part of an effort to recover billions for creditors of China Evergrande Group.
- January 29, 2024：
- The Hong Kong High Court issued a liquidation order against Evergrande.
- June 2024：
- A court-issued asset-freeze injunction and disclosure order was made against Hui Ka Yan, relating to holdings over HK$50,000.
- April 3, 2025：
- Evergrande's court-appointed liquidators requested the court to appoint receivers for all of Hui Ka Yan’s assets.
- September 16, 2025：
- The Hong Kong High Court designated Tiffany Wong and Edward Simon Middleton as receivers for all of Hui Ka Yan’s assets and appointed a legal supervisor to enforce the order.
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