But only about $255 million of the $45 billion that creditors in Hong Kong claim they are owed has been scrounged up. And the liquidators have warned that even the value of some of the seized assets is in question, casting “serious doubt on the amounts, if any, that may ultimately be realized for the benefit of the company’s creditors.”
The liquidators are pursuing another legal route to try to extract money from Evergrande: going after the former chairman, Hui Ka Yan, his wife, Ding Yu Mei, and Evergrande’s former chief executive, Xia Haijun. A case taking place in Hong Kong, with hearings that are closed to the public, has targeted $6 billion of assets that Mr. Hui and other executives paid to themselves in the years after Evergrande’s Hong Kong public listing.
Ever grande's been going down the tubes for years, good to hear at least some sort of definitive endpoint to it at last.