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Vicki Zhao And Her Husband Sued (Again) Over Guarantee Dispute

Vicki's bad year just got worse.

Vicki Zhao And Her Husband Sued (Again) Over Guarantee Dispute
Vicki Zhao and her husband, businessman Huang Youlong, are facing legal trouble again.

The couple, along with the chairman of Giant Network Group, Shi Yuzhu, were recently sued by Chinese trust and investment management company, China Minsheng Trust, over a guarantee dispute.

A guarantee is a contract in which a guarantor and creditor agree that when the debtor fails to perform the debt, the guarantor shall perform the debt or assume the responsibility in accordance with the agreement.

The hearing is expected to take place in a Beijing court on November 8.

According to Minsheng Trust’s website, the company, formerly known as China Tourism International Trust Investment, has a registered capital of 7bil yuan (S$1.47bil).

Its controlling shareholder is Wuhan Central Business District, which engages in the development, construction, operations and property management of urban areas.

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