Ding Yumei claims lack of financial understanding in court

Ding Yumei, the former wife of Evergrande's Chairman Hui Ka Yan, appeared in a Hong Kong court on Friday. Her lawyers presented arguments saying she is not capable of understanding the complicated finances of the troubled company. They described her as "just a housewife" with no experience in accounting or business management. Ding was one of seven people sued by Evergrande's liquidators as part of efforts to recover $6 billion in assets. This action is part of the company's bankruptcy proceedings, one of the largest in corporate history. So far, creditors have not received any money amid the ongoing legal challenges. The liquidators countered that Ding has been involved in complex financial dealings and should not be viewed as unsophisticated. They pointed to documents and messages showing her participation in discussions about Evergrande's business ventures, particularly in the new energy vehicle sector. In July, a Hong Kong court froze Ding’s assets while the liquidators tried to recover about $360 million in dividends she received. Recently, Judge Russell Coleman rejected Ding's requests for confidentiality in the case and clarified her legal obligations. Court documents revealed that Ding has spent $4 million since August and lives with her two children and two grandchildren. She currently owns properties worth $285 million in places like the UK and Canada. A UK court previously allowed her to spend up to £20,000 monthly while her assets remain frozen.