Casino Can't Clear Bar To Tie Up Chinese Billionaire's Assets

By Joanne Faulkner (August 24, 2021, 5:21 PM BST) -- An appeals court said on Tuesday it was not convinced there was a real risk that a Chinese businessman with £6.5 million ($8.9 million) in gambling debts would shift money out of reach if a London casino could not freeze his assets.

The Court of Appeal has set out the reasons for its decision from the bench last week to uphold an order from May that refused an application by Les Ambassadeurs Club Ltd. for a freezing injunction against the assets of Yu Songbo, chairman of Herun Group, a Chinese conglomerate.

Les Ambassadeurs, based in the InterContinental Hotel on Park Lane...

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