Market Chatter: China Evergrande Ex-CEO Says Asset Disclosure Endangers Him

MT Newswires Live
04-21

Former China Evergrande (HKG:3333) Chief Executive Officer Xia Haijun said a court order for him to disclose his assets could put him in "extreme danger," Bloomberg News reported Thursday.

Xia's lawyer said his client feared any information extracted by the courts could be leaked to Chinese authorities, the report said. Liquidators have said Xia's fear is baseless, the report said.

Judge Russell Coleman ordered Xia to disclose his assets on March 28 or be barred from presenting a defense in his liquidation case, the report said.

Coleman said Xia "certainly deliberately" did not adhere to the order, adding "he doesn't even try," Bloomberg said.

Liquidators have said the extreme delays with hearing have prevented them from recovering the failed developer's assets, Bloomberg reported.

Xia resigned from Evergrande in 2022, a year after the company defaulted. A probe previously suggested that Xia was involved in arranging loan guarantees that were not disclosed.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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