China’s Citic Bank has won a landmark judgment in a Canadian court, which ordered a mainland national to repay the bank RMB50 million (US$7.3 million), plus interest, that the bank says was spent in part on real estate in Vancouver.
But the plaintiff, Yan Shibiao, could still profit even if he complies with the judgment, since the interest component of the ruling could be exceeded by the increased value of his property in Vancouver, where prices have soared in recent years.
Yan, a…
Source : South China Morning Post
Read more…In landmark ruling, Vancouver homebuyer is ordered to repay millions to China’s Citic Bank
