May Wang and sidekick's asset freeze hearing adjourned
An application to extend freezing orders over property assets of former National Dairy New Zealand director Jack Chen has been adjourned, again, until later in the week.
An application to extend freezing orders over property assets of former National Dairy New Zealand director Jack Chen has been adjourned, again, until later in the week.
Mr Chen, the business partner of former Crafer Farm bidder May Wang, has had New Zealand property assets frozen since late 2011.
The matter was called at Auckland High Court this morning where media requests to find out what assets, and their value, the restraining orders relate to were opposed by police ahead of a jury trial Mr Chen is facing in Hong Kong.
According to Crown lawyer David Johnstone, it was thought that information published about the assets at stake here could be available to Hong Kong jurors ahead of the trial.
Mr Chen and Ms Wang face bribery and corruption charges laid by Hong Kong's anti-corruption unit ICAC.
Among those charges, the ICAC alleges that between May 2009 and March 2010 Ms Wang conspired with Mr Chen to offer him two properties in Auckland and $HK73 million ($12 million) as rewards for him to acquire her company UBNZ Assets.
A preliminary hearing of the case began in Hong Kong in January.
The pair, who were behind Natural Diary NZ Holdings' bid to buy the Crafar farms in 2010, are on bail and are understood to be living in China.
Mr Chen's wife, Ye Fang (41), and Ms Wang's solicitor, Wu Wing-Kit, have also been charged by the ICAC for allegedly laundering more than $HK230 million.
At the time of the alleged offences, Natural Dairy (NZ) was listed on the main board fo the Hong Kong Stock Exchange and Mr Wu was acting for Ms Wang.
Ms Wang, Mr Chen and his wife own several properites in Auckland.
It has been reported that Mr Chen owns two properties in Auckland, including one acquired in July 2010 in Parnell, previously owned by former Hanover boss Hark Hotchin. Ye Fang's name also appears on the Bridgewater Rd title.
The matter will return to court on Thursday.
Georgina Bond
Tue, 28 May 2013
Tue, 28 May 2013
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May Wang and sidekick's asset freeze hearing adjourned
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