Judge dismisses attempt to freeze $600 million of Pacific Andes family assets

A Hong Kong court on Monday dismissed an attempt to freeze the assets of Pacific Andes' founding Ng family and others, calling the request "draconian and oppressive."

FTI Liquidators, named to represent bankrupt subsidiaries based in the British Virgin Islands, sought a $600 million (€532 million) freezing order against Pacific Andes as part of its effort to secure damages from the company and its directors.

High Court Judge Le Pichon noted that despite FTI's allegations of wrongdoing, "not a single charge" had been brought against the family in the Hong Kong court.