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Market Chatter: Hong Kong Court Hears Dispute on HK$1 Billion Compensation Deal for Evergrande Shareholders

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Hearings to determine the validity of a HK$1 billion deal to compensate the minority shareholders of China Evergrande (HKG:3333) began at a court in Hong Kong, Bloomberg reported Wednesday.

At the Wednesday hearing, lawyers demanded disclosure of the terms of the agreement struck in April between the Securities and Futures Commission (SFC) and PricewaterhouseCoopers' Hong Kong affiliate.

The lawyers also sought details of shareholders the compensation would be granted to. The SFC declined citing confidentiality, according to the report.

The regulator had decided to pursue the compensation plan in June despite the property developer's court-appointed liquidators seeking a judicial review of the deal.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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