CN Creditors Turn to HK Courts to Recover Funds from CN Developers
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Chinese creditors are increasingly seeking to recover debts from distressed property developers by turning to Hong Kong courts. A notable case involves SUNAC's chairman, Sun Hongbin, who is being sued by ORIENTAL YUHONG for over RMB418.5 million (USD61.3 million) based on a mainland judgment. If successful, ORIENTAL YUHONG could access Sun's offshore assets.
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