Hong Kong billionaire faces bankruptcy as court rejects “absurd” duress and abuse claims
Pan Sutong throwing the first ball at the Snow Polo World Cup in 2013 (Credit: WikimediaCommons/Winteamb)
A Hong Kong court has authorised the filing of a bankruptcy petition against prominent local billionaire Pan Sutong and wound up a company he controls, finding their claims of duress, breaches of mainland Chinese law and abuse of process against the Chinese state-owned petitioner rang “hollow” and were “practically moonshine”.
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