A Hong Kong court heard arguments about injunctions filed by liquidators of China Evergrande Group (HKG:3333), bringing the former CEO of the company into the limelight once again, Bloomberg reported Thursday.
The hearing was related to stopping the former CEO Xia Haijun, who was forced to resign in 2022, and other officials from disposing of their properties in different parts of the world as liquidators want to maximize returns to the company's creditors. A decision was not reached, leaving the injunctions in place for now, the publication said.
Xia's lawyers are arguing that he was not responsible for preparing the statements of a subsidiary as he was the CEO of the parent company. They also said he was misled by the auditing firm PricewaterhouseCoopers, who were later fined a mammoth 441 million yuan, Bloomberg said.
The lawsuit, which was filed earlier this year, has several people named in it apart from Xia and seeks to recover $6 billion, Bloomberg said.
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