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
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.
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.
