Evergrande wins HK$6b debt-recovery case after court rejects ‘fabricated’ claims
A Hong Kong court has ruled in favour of embattled conglomerate Evergrande in a debt-recovery case, allowing it to recoup about HK$6 billion (US$764.7 million) from a third party after a judge found the borrower’s arguments against enforcement of the loan were “fabricated”. In a High Court judgment handed down on Friday and seen by the South China Morning Post, Judge Linda Chan dismissed an…
A Hong Kong court has ruled in favor of conglomerate Evergrande, allowing it to recover around HK$6 billion (US$764.7 million) from a third party. The court dismissed claims made by Yingjia International Properties that the loan agreements were "fabricated". Yingjia's counsel argued that a "collateral agreement" existed, but the judge dismissed this as a recent fabrication.
The court also rejected Yingjia's bid for an interim injunction to block State Hero Holdings, an indirect wholly-owned subsidiary of Evergrande Group, from filing a winding-up petition against Yingjia. Yingjia International must now pay State Hero's legal costs.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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