Lenders target Luckin Coffee chairman’s assets

By Jonathan Breen
22 May 2020

A group of lenders is targeting the family assets of Luckin Coffee chairman Lu Zhengyao to regain losses from more than $500m in margin loans.

Credit Suisse, which is leading the group, is pursuing a court order to appoint liquidators for Haode Investment, a British Virgin Islands-incorporated entity owned by Lu’s family trust, according to a notice in the BVI Gazette on Thursday. The BVI Gazette is operated by the government of the ...

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