Recently, the news that Xu Jiayin is facing a lawsuit in Hong Kong due to a debt default of 5.3 billion yuan has aroused widespread concern from all walks of life. As the soul of China Evergrande Group, Xu Jiayin's financial difficulties seem to be gradually surfacing, and the active involvement of CITIC companies has made the turmoil more complicated.
Loading...
It is understood that Xu Jiayin became the defendant of Hexin Hengju (Shenzhen) Investment Holding Center (Limited Partnership) because he failed to repay a debt of up to 5.3 billion yuan on time. Hexin Hengju, as a member of the CITIC company, this firm position is undoubtedly a resolute maintenance of market rules and the spirit of the contract. In the event of a debt default, they chose to seek a solution through legal means.
It is worth noting that this is not the first time that Hexin Hengju has taken legal action. As early as April this year, the Hong Kong High Court issued a charge order against Hui Jiayin, requiring him to repay his debts immediately. However, Xu Jiayin does not seem to have been able to fulfill this obligation as scheduled, which also makes Hexin Hengju's patience gradually wear out.
Just recently, Hexin Hengju again submitted an application to the High Court of Hong Kong to require Hui Ka Yin to hand over the vacant property of Cheung King House in Tsim Sha Tsui. The property is worth a lot of money, and if it can be sold at auction, it will undoubtedly be able to provide some financial support for Xu Jiayin's debt repayment. This application not only demonstrates the determination of CITIC companies, but also reflects their firm attitude towards maintaining market order and contractual agreements.
Of course, there are more stories behind this turmoil. China Evergrande Group was recently ordered to liquidate due to insolvency, and Xu Jiayin, as the founder, is naturally difficult to escape. His personal assets have been affected, and the debt relationship between Hexin Hengju, as one of the shareholders of Evergrande Real Estate, is closely linked to Xu Jiayin.
In this context, the action of Hexin Hengju is particularly eye-catching. Not only did they demand that Xu Jiayin repay his debts, but they also wanted to ensure that their interests would not be harmed by taking over the property.
However, the direction of this turmoil is still fraught with uncertainty. Will Xu Jiayin be able to repay his debts on time? Will Hexin Hengju's application be approved by the court?
These questions have yet to be tested by time. But in any case, the turmoil has become a classic case that has caused people to think deeply about the problem of corporate debt.
For Xu Jiayin, this turmoil is undoubtedly a huge blow. As a business leader, his former glory and success seem to have become a thing of the past. However, in the face of adversity, will he be able to survive and bounce back? This is not only a personal issue for Xu Jiayin, but also for all those who are concerned about China's real estate market and corporate debt problems.
For CITIC companies, their active involvement and firm stance have undoubtedly set an example for the entire market. In the face of debt defaults and other issues, they have chosen to protect their rights and interests and the order of the market through legal means. This attitude is not only worthy of recognition and encouragement, but also provides useful reference and inspiration for other investors and creditors.
Finally, we have to admit that this turmoil did not happen by accident. It reflects the severity and complexity of China's current real estate market and corporate debt problems. Against this backdrop, we need to think more deeply about how to strengthen market supervision, standardize market order, and prevent and defuse financial risks. Only in this way will we be able to ensure the sustained and healthy development of China's economy and the stability and harmony of society.
So, what do you think about this turmoil? Do you think Xu Jiayin will be able to survive the difficulties?
Feel free to leave a message in the comment area to share your views and opinions!