The Xu Jiayin family’s 33 companies and multiple overseas bank accounts have been taken over or frozen, involving a maximum of USD 7.7 billion

According to a report by the Daily Economic News, the High Court of Hong Kong recently ruled that the liquidators of China Evergrande Group are to take over the assets related to Xu Jiayin's family. Previously, the High Court of Hong Kong had issued a global injunction against assets under Xu Jiayin's name, explicitly prohibiting the disposal of assets valued up to USD 7.7 billion worldwide.

According to relevant legal documents from the High Court of Hong Kong, the liquidators of China Evergrande requested to freeze Xu Jiayin's family assets, which involve 33 offshore companies and 7 bank accounts opened in Xu Jiayin's name or under offshore companies. In this ruling, the High Court of Hong Kong allowed the liquidators of China Evergrande to take over the offshore companies that Xu Jiayin holds 100% actual control over, and all 7 related bank accounts have been frozen.

The assets of Xu Jiayin taken over by the liquidators of China Evergrande include multiple properties located in Hong Kong, the UK, and the US, as well as private jets, luxury cars, yachts, and two Rolls-Royce Phantoms