Steven Zhang Kangyang, chairman of Italian Serie A team Inter Milan and son of former Suning Appliance Group chairman Zhang Jindong, was ruled by the Chinese High Court on July 19 to pay a debt of US$255 million.
Zhang Kangyang was petitioned by China Construction Bank (CCB) last year on behalf of his creditors to recover the above debt. Judge Chan Kin-keung of the Court of First Instance adjudicated that CCB won the case, and Zhang had to pay the other party’s litigation costs.
