Evergrande chair’s ex-wife seeks court guidance on disclosures

The ex-wife of China Evergrande (3333) chairman Hui Ka-yan is asking the high court of Hong Kong to clarify her obligations imposed by injunctions.

Ding Yu-mei’s lawyer said she received more than 300 letters from liquidators requesting more information about her assets. She is asking the court to provide guidance on the “details” that she has to disclose, her legal representative told a hearing Friday.

The lawyer requested that Ding’s disclosure obligations be limited to necessities.

Evergrande’s liquidators are seeking to recover US$6 billion (HK$46.8 billion) in dividends and remuneration from seven defendants including Ding, as part of attempts to recoup at least a fraction of the creditors’ investments in the property firm. Courts in Hong Kong and London granted worldwide asset freeze injunctions against Ding in July last year.

Representatives for the liquidators argued that Ding only disclosed some details of her global assets, but not all the ones acquired through her payouts from Evergrande.

“Her disclosure is not complete,” said Charles Manzoni, a legal representative for Evergrande’s liquidators, at the hearing. “Ding offered different info on a piecemeal basis.” The liquidators “have significant distrust of Ding’s approach,” he added.

The liquidators’ representative also said Ding claimed she’s owed HK$33 billion by her ex-husband Hui and HK$1 billion by her son, who isn’t subject to any injunction.

Ding’s assets include an investment portfolio at Orient Securities, properties in London and artwork in Guangzhou.

BLOOMBERG