Beijing Oriental Yuhong seeks Hong Kong enforcement against Sun Hongbin
Updated
Updated · Bloomberg · May 7
Beijing Oriental Yuhong seeks Hong Kong enforcement against Sun Hongbin
5 articles · Updated · Bloomberg · May 7
The supplier wants Hong Kong courts to enforce a mainland ruling ordering the Sunac China chairman to pay more than 418.5 million yuan, about $61.3 million.
The case adds to recent efforts by Chinese creditors to use Hong Kong courts to pursue repayment from distressed mainland property developers and their executives.
It highlights mounting pressure on China’s embattled real estate sector, where suppliers and other creditors have struggled to recover debts through mainland channels alone.
Is Hong Kong's legal system becoming the last hope for creditors in China's property collapse?
Will a new legal pact with Hong Kong finally unlock billions in frozen Chinese developer assets?