Liquidator placed over cash-for-visa broker’s company after Nuremore Hotel closure

Indonesia Berita Berita

Liquidator placed over cash-for-visa broker’s company after Nuremore Hotel closure
Indonesia Berita Terbaru,Indonesia Berita utama

Assets bought by Kai Dai’s Huawen Foundation include hotel in Carrickmacross, Co Monaghan which has been shut since January because of cash flow issues

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A provisional liquidator has been placed over Huawen Foundation Ltd, after a court heard that its owner Kai Dai was a “shadowy figure” who might “engage in maneuvers” to place its main asset, the Nuremore Hotel, “outside the reach of creditors”.

The petition was taken on an ex-parte basis by Yan Wang, a Chinese investor who subscribed for €1 million in loan notes through Kai’s company.

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