Zhou Zhuohua, the founder of Suncity Group, nicknamed "Xi Mihua", was accused of borrowing 300 million yuan from a company last year, which has not yet been repaid.
The company filed a complaint with the High Court last Friday (25th) to recover 422 million yuan from Zhou and the company he owns with interest.
The plaintiff is Champion Trade Group Limited, and the defendants are Star Soul Investments Limited and Zhou Zhuohua in turn.
The filing states that the plaintiff and the first defendant reached an agreement in July 2021 that AG Capital Limited, Sun Hung Kai Structured Finance Co., Ltd. and Li Chenghui (transliteration) will borrow 300 million from the first defendant, and the second defendant will act as a guarantor , and was limited to repay 314 million yuan with principal and interest before December 15 of the same year, but the first defendant did not repay.
Until May of this year, the plaintiff reached an agreement with the borrower to transfer the above 300 million rights and interest to the plaintiff, but the defendant still failed to repay the debt, so the plaintiff filed a lawsuit against the two defendants for 300 million yuan in principal and 122 million yuan in interest , a total of 422 million yuan, and pay the legal costs of this lawsuit.
Case number: HCA 1636/2022
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