Evergrande Liquidators Move to Appoint Receivers to Track Founder Hui Ka Yan Assets

Liquidators of embattled developer China Evergrande Group have applied for receivers to be appointed in order to identify the assets of founder Hui Ka Yan, according to people familiar with the matter. The move marks another step in efforts to recover funds after the company was ordered into liquidation earlier this year.

The application, filed in a Hong Kong court, comes amid ongoing investigations into Hui, who has been under police surveillance since 2023. Creditors are seeking to determine the extent of his wealth and whether any assets can be seized to satisfy Evergrande’s massive debts, estimated at more than $300 billion.

If approved, the receivers would gain authority to probe Hui’s holdings globally, potentially including real estate, corporate stakes, and offshore investments. The case highlights the challenges faced by liquidators in unwinding China’s most indebted property developer as Beijing continues to navigate its broader real estate crisis.

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