ING Sues Legendary Chinese Copper Trader Over $147 Million Debt
- ING filed Hong Kong lawsuit against He Jinbi for Triway debt
- He’s firm Maike is seeking restructuring amid liquidity crisis
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ING Groep NV is suing He Jinbi, a legendary Chinese copper trader and founder of troubled merchant Maike Metals International Co., over $147 million in unpaid debt.
The money involves overdue payments owed by Triway International Ltd., a trading arm of Maike, according to a Hong Kong High Court document dated June 26. He, Maike’s chairman, was sued by the Dutch bank as he failed to honor the guarantee obligation by repaying the debt of Hong Kong-based Triway, the filing showed.