Son of Dalian Wanda's chairman has settled debts, says Chinese court

  • World Premium
  • Friday, 27 Dec 2019

SHANGHAI (Reuters) - A Chinese court has lifted restrictions on the only son of Chinese billionaire Wang Jianlin, the chairman of private conglomerate Dalian Wanda, who hit headlines last month after reports that he owed at least $20 million to creditors.

Wang Sicong, a well-known name in China thanks to his high-profile social media displays of a luxurious life, was barred by courts in November from taking trains and planes due to debts incurred by his private equity firm Prometheus Capital which was founded with 500 million yuan ($71.5 million) his father gave him.

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