Yida Zhang faces a court appearance with potential imprisonment for defying a court order related to a long-standing legal dispute with Lux Locations.
As the principal investor in Antigua’s first special economic zone, the ‘Yida development,’ Zhang has withheld crucial information from a local real estate firm attempting to sell his shares in the project, violating the court’s directives.
The controversial development, proposed nine years ago, sparked local outrage.
Zhang owes Lux Locations over US$4 million, stemming from assistance provided in acquiring land for the project between 2013 and 2014.
The High Court, responding to the unpaid debt, froze all of Zhang’s assets, preventing their disposal until the debt is settled.
A November court order requires Zhang to disclose asset details, barring incriminating information, and notify Lux Locations of fund sources, maintaining validity until the debt is satisfied.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
