Crown Group's Joint Liquidators State Chinese Victims Can File Claims

On October 28, with the arrest of Chen Zhi, the head of the Crown Group in Cambodia, various jurisdictions have begun the process of disposing of assets related to the Crown Group. Local courts have appointed Joint Provisional Liquidators (JPLs) to investigate and preserve the assets of the 30 entities controlled by Chen Zhi in the British Virgin Islands. The Joint Provisional Liquidators stated that there have been challenges to their appointment and actions in multiple jurisdictions. Although a claims filing and distribution process has not yet been established, if the liquidation process is initiated and sufficient funds are available, the liquidators will establish a claims procedure and distribution according to the British Virgin Islands bankruptcy law. This bankruptcy procedure is collective in nature, and potential victims from any jurisdiction, including victims of online fraud and gambling from China, can file claims.

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