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Chinese developer Evergrande files for US bankruptcy protection

This is a Pakistani run Pakistan defence.PK board
Listen dickhead Chutiya - dont play your Shit games with me, savy ?

- If you cannot tolerate mention of Pakistan in this board, you should quit
Who THE FK ARe you monkey-faced Sanatani to ask me to quit?

The fact that you shitty losers cant go a moment without mentioning the word Pakistan is proof your your obsession with Pakistanis -
 
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Listen dickhead Chutiya - dont play your Shit games with me, savy ?


Who THE FK ARe you monkey-faced Sanatani to ask me to quit?

The fact that you shitty losers cant go a moment without mentioning the word Pakistan is proof your your obsession with Pakistanis -
you may have seen a lot of dickheads but you won't ever get to see mine, let alone playing games with it. Keep your dirty disgusting fetishes to yourself.

And if you don't know who I am why the busted-tincan-scum-faceed you ask me who I am ?

3rd point you got right - we are obsessed with you lot because of your wonderful language skills such as you showed here.

Now buzz of. After these two pointless posts you made the ranks of ignorables. Done.
 
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let alone playing games with it. Keep your dirty disgusting fetishes to yourself
donr put your sanatani culture fetishes on me Arsehole

3rd point you got right - we are obsessed with you lot because of your wonderful language skills such as you showed here.
This the only language that Sanatnis pig understand here

Now buzz of. After these two pointless posts you made the ranks of ignorables. Done.
As if anyone in the world will give a fk about Sanatni pigs View - though one thing is for sure be it NRI or non NRI Sanatis pig obsessions with Pakistanis will never end
 
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Hong Kong mansions, worth US$192 million, linked to China Evergrande founder Hui Ka-yan, seized by creditor​



  • Orix Asia Capital appoints receivers for 10C and 10E on Black’s Link, The Peak, which are linked to Chinese tycoon Hui Ka-yan through his associate Tan Haijun
  • Another mansion on Black’s Link, 10B, also linked to Hui, was put up for sale in March after being seized by China Construction Bank
bfbc65e7-6f89-47c1-97cb-7f234f0accff_c0bb33d5.jpg

A creditor of China Evergrande has seized two luxury houses on The Peak in Hong Kong linked to the developer’s founder Hui Ka-yan

A creditor has seized two Hong Kong luxury properties valued at more than HK$1.5 billion (US$192.3 million) owned by a company connected to a top China Evergrande executive, weeks before the next winding-up hearing against mainland China’s most indebted developer.

Orix Asia Capital has appointed receivers for the adjacent homes, according to filings with the Land Registry on Tuesday. The properties, 10C and 10E on Black’s Link, The Peak, are linked to the troubled Chinese tycoon Hui Ka-yan through his associate Tan Haijun, who is listed as a director of the company that holds the houses.

Tan is the director of Giant Hill, which owns the two mansions, according to Land Registry data. Hui, Evergrande’s founder and chairman, resigned as director of Giant Hill on July 30, 2021, with Tan appointed director on the same day.

Cosimo Borrelli and Tang Tak Yeung are the receivers for one of the houses.

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China Evergrande’s founder Hui Ka-yan pictured in March 2017. Photo: Reuters

The properties, valued at more than HK$1.5 billion, will be formally seized within days, according to media reports on Wednesday.

Evergrande declined to comment, saying it was a personal matter.


The seizure of the homes comes after the Hong Kong High Court last month adjourned a winding-up hearing against Evergrande, saddled with US$328 billion of liabilities, signalling a final reprieve for the restructuring that has dragged on for the past two years. The next hearing is on December 4.
Justice Linda Chan granted the Guangzhou-based developer five weeks to get its house in order and stave off liquidation, with a warning that the court was “highly likely” to grant a winding-up order if no restructuring plan was ready by then.

Justice Chan said the “final adjournment” would give more time for Evergrande to cobble together a deal that would offer higher returns to creditors than in the case of liquidation. She added that the developer had consumed too much time over the past 17 months on its negotiations with creditors.

In March, receivers of another of Hui’s mansions on Black’s Link, 10B, put the asset up for sale to recover unpaid bills after the home was seized by China Construction Bank (Asia) in November last year.

The mansion in March was valued at more than HK$800 million, given comparable properties on The Peak were fetching HK$140,000 to HK$150,000 per square foot, a source familiar with the sale process said.

Centaline Property Agency and CBRE were appointed as sole co-agents to sell the ultra-luxury property.


The mansion was owned by Better Vision, whose director is also Tan, according to the Companies Registry.

Three adjoining mansions of up to 5,400 sq ft each at 10 Black’s Link were remortgaged in late 2021 for HK$1.1 billion.
Hui, once China’s richest person, has seen his personal wealth dwindle since the developer was enmeshed in a debt crisis triggered by Beijing’s “three red lines” measure in August 2020 to curb leverage in the property industry.

Hui is currently detained by Chinese authorities on suspicion of economic crimes.
 
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