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China Evergrande announcement: Xu Jiayin was executed, involving an amount of more than 6 billion yuan

Shulou Source: shulou.com Published: 2023-11-24 16:44:54 10月03日 Update

Thanks to CTOnews.com netizens for the delivery of clues such as rain and snow, travel and thisthat. CTOnews.com, May 13, China Evergrande issued an announcement that the company received an enforcement notice from the Guangzhou Intermediate people's Court of Guangdong Province on the arbitration award of Shenzhen International Arbitration Court. The Company, the Company's subsidiary, Guangzhou Kailong Real Estate Co., Ltd., and Xu Jiayin, the controlling shareholder and executive director of the Company, are the executees of the enforcement notice. The total amount of execution exceeds 6 billion yuan.

CTOnews.com attached items to be executed:

The difference between Guangzhou Kailong and Xu Jiayin in paying the dividend of Evergrande Real Estate in 2020 is about 204 million yuan, and the default penalty is about 51.53 million yuan.

Xu Jiayin and the Company bought back the Evergrande real estate equity held by the arbitration applicant at RMB 5 billion.

The company pays the compensation of about RMB 770 million to the completion of the repurchase of Evergrande property held by the arbitration applicant from February 1, 2021.

Our company, Guangzhou Kailong and Xu Jiayin pay about RMB 35.53 million in legal fees, arbitration fees and enforcement fees.

The arbitration involved the capital increase and related agreements signed by Hexin Hengju (Shenzhen) Investment Holdings Center with the relevant respondent during December 2016 and November 2020. to increase the capital of Evergrande Real Estate Group Co., Ltd. by RMB 5 billion to acquire about 1.6% stake in Evergrande property. Evergrande Land terminated its restructuring plan for Shenzhen Special Economic Zone Real Estate (Group) Co., Ltd., the arbitration applicant requested the Company, Evergrande Real Estate, Guangzhou Kailong and Xu Jiayin to fulfill their repurchase commitments and outstanding dividends, liquidated damages and profits under the Capital increase Agreement.