The Hong Kong court expands the asset freeze on Ding Yumei in the Evergrande case

The Hong Kong court has expanded the asset freeze against Ding Yumei, the ex-wife of Evergrande Group founder Xu Jiayin, including over USD 300 million of her assets in Canada, Gibraltar, Jersey, and Singapore in the injunction, to give the liquidators of Evergrande greater space to recover the USD 6 billion owed to creditors.

Nearly two years after Evergrande's collapse, the liquidators are still making slow progress in recovering assets and repaying creditors, and they have now turned their attention to Xu Jiayin, Ding Yumei, and former CEO Xia Haijun.

Court documents show that Ding Yumei holds approximately CAD 137 million in three Canadian bank accounts, and has a total of over USD 220 million in accounts in Gibraltar, Jersey, and Singapore