Two adjoining mansions linked to China Evergrande (HKG:3333) founder Hui Ka Yan are now being marketed at a much lower combined value of HK$900 million, Bloomberg News reported Monday, citing people familiar with the matter.
The mansions, located at House C and E at 10 Black's Link, were previously valued at HK$1.5 billion, the report said, citing the sources.
The houses were linked to Hui through his associate Tan Haijun, a director of the companies holding the mansions, according to the report.
Earlier in January, a Hong Kong court ordered Evergrande to be liquidated for failure to restructure more than $300 billion in debt after defaulting in 2021.
Hui is under detention in Shenzhen for his alleged role in the default. He was fined $6.6 million and banned from the securities market for life.
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