Evergrande Chairman Hui Ka Yan Under Police Surveillance Amid Ongoing Debt Crisis

Hui Ka Yan, Evergrande chairman, taken under police control according to Bloomberg
Hui being monitored at designated location under 'residential surveillance'
Unclear why Hui under police action, doesn't mean he'll be charged
Latest sign saga at indebted developer entered new phase with justice system
Follows authorities detaining personnel from Evergrande financial subsidiary

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Relevant topic timeline:

8/31/2023

How Evergrande’s downfall signaled China’s property crisis

Borrowing to buy land and using unorthodox strategies to generate funds, China Evergrande Group and its founder, Hui Ka Yan, saw enormous success before facing a messy collapse under the weight of debt, revealing the inner workings of a Chinese property giant and the challenges facing the country's property market.

9/17/2023

Chinese Authorities Detain Evergrande Staff Amid Deepening Property Crisis

Chinese authorities have detained personnel from Evergrande's financial subsidiary as part of their involvement in the ongoing crisis, with the detained individuals being part of Evergrande Financial Wealth Management Co., triggering further financial chaos.

9/28/2023

Evergrande Shares Suspended, Founder Under Police Watch Amid Deepening Debt Crisis

Trading in shares of China Evergrande has been suspended after reports that the chairman has been placed under police surveillance, raising concerns about the developer's future as it struggles with growing debt and a possible liquidation.

10/1/2023

From Richest to Ruin: The Stunning Downfall of China's Evergrande Billionaire Hui Ka-yan

China Evergrande's founder and chairman, Hui Ka-yan, once the country's richest man, has seen his wealth decline as the company faces significant debt and potential criminal charges.

10/2/2023

Evergrande Chairman Under Investigation as Company Struggles with Debt Crisis

China Evergrande Group Chairman Hui Ka Yan is under investigation for alleged asset transfers abroad, as the indebted property developer struggles to complete its projects.

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Posted 9/27/2023, 3:50:52 AM