Xu Jiayin miscalculated, and Ding Yumei's assets were frozen globally, and she could only use $26,000 per month.
According to the latest news from Bloomberg, a United Kingdom court allowed Ding Yumei, the ex-wife of Xu Jiayin, the founder of China's Evergrande, to spend up to 20,000 pounds a month, or about $26,000.
It was also revealed that Ding Yumei has more than $4 million in a United Kingdom bank account and lives in a luxury apartment in London, which was developed by Xu Jiayin's friend Zhang Songqiao.
Therefore, it can now be confirmed that Ding Yumei did go out and is staying in United Kingdom now, but Ding Yumei has already immigrated to Canada and is a Canada person.
Why did the United Kingdom court freeze Ding Yumei's assets? She did not break the law in United Kingdom, and many people looked confused, and this matter has to start with the Hong Kong court's winding-up order against China Evergrande.
Previously, a creditor had filed a petition with the Hong Kong Court for the winding-up of Evergrande. The Hong Kong court gave many chances, but Evergrande's restructuring plan never progressed, so a winding-up order was finally issued.
When a winding-up order is issued, the company is no longer in the hands of the founders, shareholders or executives, but is taken over by the liquidators, and the Hong Kong court has appointed two very senior liquidators. The two liquidators liquidated Evergrande's assets, only to find that the company had been hollowed out by Xu Jiayin and his gang, and there were not many assets at all.
So in March this year, the liquidators sued Xu Jiayin, Xia Haijun, the former president of Evergrande, and Pan Darong, the former chief financial officer of Evergrande, in the name of China Evergrande, demanding that they spit out all the salaries, bonuses and other income they received from Evergrande from 2017 to 2020, and demanded that the assets in their names be frozen.
Later, the liquidator thought about it, no, Xu Jiayin, an old fox, had already cut off his property through a technical divorce, and all of them were transferred to his ex-wife Ding Yumei, and he had no assets. So the liquidators added Ding Yumei, a total of 4 people, 3 companies, and 7 defendants, and recovered a total of 6 billion US dollars, about 42 billion yuan, from them.
The Hong Kong court also issued an injunction against Ding Yumei to freeze the assets in her name. Because of the history of Hong Kong and United Kingdom, the laws of the two places are mutually recognized, and then United Kingdom London court issued the same injunction to freeze Ding Yumei's assets.
Seeing the news that Ding Yumei's assets were frozen, I believe many people feel very happy. Xu Jiayin miscalculated after all, and thought that it would be safe to complete the cutting of assets through divorce.
How much can Ding Yumei's assets spit out? Can it be used to compensate for the loss of unfinished property buyers?
At present, it is not possible to confirm how much assets Ding Yumei has taken away, and it has been rumored on the Internet to exceed 50 billion, because the dividends of the Xu Jiayin family from Evergrande have exceeded this amount, in addition to salaries, cashing out of reduced shares, interest on bond purchases and so on.
In addition, the Hsu family owns a lot of fixed assets overseas, including real estate, private jets, yachts, and so on. There is a mansion worth nearly 2 billion yuan in United Kingdom, and there should be many in other countries.
However, this time, the liquidators recovered US$6 billion from the seven defendants, of which Ding Yumei only recovered about HK$2.8 billion, or about US$359 million, in the form of dividends between 2018 and 2020. This amount of money is only the tip of the iceberg for the assets owned by Ding Yumei.
It is understood that as long as the lawsuit is over, the assets in Ding Yumei's name will be unfrozen. This means that Ding Yumei only needs to spit out $359 million, and the assets under her name will be safe.
As for the money recovered, it is relatively unlikely that it will be used to compensate for the losses of home buyers. According to the winding-up provisions, after the liquidator realizes the company's assets, they use them to distribute them to the creditors, that is, to repay the creditors' money.
To be honest, I haven't seen any rich people who have brought out the money and can recover it. However, Ding Yumei's money is not necessarily safe, on the one hand, Evergrande has creditors all over the world, and they can initiate lawsuits in various countries and continue to recover from Ding Yumei. The other is that many of Ding Yumei's assets are illegally obtained, and it is very easy for other countries to harvest them, just find a reason, such as money laundering accusations that United States is best at.
In short, it is not so easy to spend the money transferred out, and now you can still use 26,000 US dollars a month, and you will not know in the future.