LK - Banks Are Going After Luckin Coffee Chairman's Assets
A syndicate of banks is moving to liquidate the privately held company owned by Luckin Coffee (NASDAQ: LK) chairman Charles Zhengyao Lu.
On Friday, Reuters reported -- based on an official notice published in a government periodical in the British Virgin Islands (BVI) it had seen -- that a formal request had been filed on the matter by Credit Suisse. The Switzerland-based bank is the security agent in the request, i.e. the party representing the syndicate.
A court hearing on the liquidation of Haode Investments has been scheduled in the BVI for June 8.