Cheuk Hyatt Holdings (00653.HK) announced that on 8 June, the Chairman and Executive Director of the Company, Chan Kin Man (the defendant), received a writ of summons against the defendant issued by a solicitor representing Yip Chun Hang in the Court of first instance of the High Court of Hong Kong. The plaintiff is the vice chairman and executive director of the company.

According to the writ of summons, the plaintiff claimed that the defendant should return the sum of 75 million yuan, that is, the outstanding amount or other money already held and obtained under a series of loans granted to the defendant by the plaintiff between February and July 2019.

Chan Kin-man issued a statement saying that Yip Chun-Heng's claim was groundless and unjustified. He is seeking legal advice on the above claim, fully defending his personal position, and reserves all legal rights to make a counterclaim against Ye, and must resort to legal action for any intentional or malicious damage to his reputation.