Hong Kong High Court Approves Freezing of Assets Worth HK$8.9 Billion Belonging to Chen Zhi and Others from the Prince Group

On May 13, according to HK01, the Hong Kong High Court approved the Department of Justice's application for a Mareva injunction against 42 individuals and companies, freezing a total of HK$8.93 billion in assets, including deposits, properties, and stocks. Among them, Chen Zhi's assets alone exceeded HK$6.36 billion, including HK$2.2 billion in deposits, a commercial building at 68 Kimberley Road, Tsim Sha Tsui, valued at HK$3 billion, and a villa at Mount Nicholson, The Peak, valued at HK$1 billion. Zhou Yun, who assisted in managing his assets, has total assets exceeding HK$2 billion. Her personal accounts hold the equivalent of HK$15.92 million in Hong Kong dollars, Euros, and Bitcoin. In addition, Hu Xiaowei and Li Tian, related to Prince Group, had approximately HK$400 million and HK$172 million in assets frozen, respectively. The court will reconvene on August 3 to decide whether to continue the Mareva injunction.