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Evergrande founder's ex-wife gets limited access to frozen funds
The Straits Times
|September 12, 2024
A British court allowed the former wife of China Evergrande Group founder Hui Ka Yan to spend as much as £20,000 (S$34,000) a month after freezing her assets in a case brought by the developer's liquidators.
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The move is part of efforts aimed at recovering about HK$2.8 billion (S$468 million) from Ms Ding Yumei paid to Ms Ding through two of her wholly owned corporate vehicles as dividends between 2018 and 2020.
Ms Ding was allowed the monthly living expenses and to pay legal fees of as much as £350,000 in August, according to court documents. She held a 5.99 per cent stake in Evergrande, according to filings in 2023.
This story is from the September 12, 2024 edition of The Straits Times.
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