£20,000 a Month: UK Court Grants Lavish Allowance to Billionaire Xu Jiayin’s Ex-Wife Ding Yumei
Xu Jiayin’s Ex-Wife Ding Yumei Granted £20,000 Monthly Allowance by British Court
Published: 2024-09-11 17:14
Financial Arrangement Approved: A British court has approved a financial arrangement for Ding Yumei, the ex-wife of Xu Jiayin, the founder of China Evergrande Group, allowing her to spend up to £20,000 per month.
The court’s decision is related to the recovery of approximately HK$2.8 billion of funds from Ding Yumei, which involved dividends she received through two wholly-owned companies between 2018 and 2020.
Ding Yumei holds about 5.99% of Evergrande’s shares and has significant assets, including more than $4 million in bank deposits in the UK and a luxury home in Thames City, London. Evergrande Group is seeking to recover about $6 billion from Xu Jiayin, Ding Yumei, and other former executives, citing misreported dividends and remuneration between 2017 and 2020.
In a related development, a London court issued a similar injunction to Ding Yumei on July 30. The case is ongoing, with the court’s decision on the financial arrangement being the latest development in the matter.