Foreign media: Credit Suisse applied for a court order to appoint a liquidator to luckin founder Lu Zhengyao family trust

BEIJING, May 22 (Reuters) – A loan agency led by Credit Suisse Group has targeted the family assets of Lu Zhengyao, chairman of Luckin Coffee, in an effort to make up for more than $500 million in margin loan losses caused by luckin coffee’s involvement in an accounting scandal, Bloomberg reported. Credit Suisse Singapore is seeking a court order to appoint a liquidator for Haode Investment Inc., according to a notice published Thursday in the British Virgin Islands Gazette.

Media: Credit Suisse applied for a court order to appoint a liquidator to luckin founder Lu Zhengyao family trust

According to a statement issued by the lender in early April, Haode Investment’s controlling person is Lu Zhengyao’s family trust, which defaulted on a stock pledge loan last month.

It is reported that Credit Suisse on 23 April to the British Virgin Islands East Caribbean Supreme Court of the Supreme Court of liquidation.

The hearing will take place on June 8. A Credit Suisse spokesman declined to comment. A Luckin Coffee spokesman declined to comment.