The liquidators of the insolvent Chinese property developer Evergrande are attempting to sell a private Airbus jet that belonged to founder Hui Ka Yan. The aim is to repay at least part of the company's billions in offshore debt to international investors.

The Airbus A319, a business jet the size of a passenger aircraft, is located in Guangzhou, southern China, according to flight records. The jet was one of several luxury goods that Hui acquired during Evergrande's boom years. His assets also included villas in London, Sydney, and Hong Kong, a 60-meter mega yacht, and the football club Guangzhou Evergrande. In 2017, Hui topped the Forbes list of the richest Chinese with an estimated fortune of 43 billion dollars.

The liquidators, Edward Middleton and Tiffany Wong of Alvarez & Marsal, have taken control of the offshore unit that acquired the jet, and have now offered it for sale. Market experts estimate the current value of the 14-year-old aircraft at 25 to 30 million dollars, compared to around 90 million dollars at acquisition.

The planned sale of the jet is an important test for the enforcement of asset claims by liquidators in China, whose legal system differs from that in Hong Kong. A successful sale could be an early signal of progress in the repayment of investors affected by Evergrande's offshore debts of more than $20 billion. These debts became nearly worthless following the insolvency in 2021. Overall, the company's liabilities amounted to over $300 billion.

In addition to the aircraft, the liquidators are also seeking to recover funds through lawsuits against Evergrande managers and global consulting firms that enabled Evergrande's rapid growth. The defendants include PwC, CBRE, and Avista Valuation Advisory. Additionally, attempts are being made to recover 6 billion dollars from Hui and other executives. According to the China Securities Regulatory Commission, Hui and Evergrande overstated their sales by 78 billion dollars in 2019 and 2020.

The Airbus jet is only part of Hui Ka Yan's extensive asset portfolio, listed in court documents from March 2023. This includes two more jets – an Airbus A330 and a Gulfstream G450 –, two yachts, and two Rolls-Royce Phantoms.