The chairman of an acquisitive Chinese real estate conglomerate has landed on a national debtors blacklist that bars him from flying first class or going to nightclubs, as leverage pressures intensify for the country's property sector in the wake of the coronavirus outbreak.
Huang Qisen, the founder and chairman of Tahoe Group, was added to the Supreme Court’s public database after failing to repay loans to a Chinese trust company. Moody’s said in March that the company had $4.3bn in short-term debts.
Tahoe went on a global buying spree in 2016 but has more recently become one of several highly indebted property developers flagged by the Financial Times for default risks on US dollar-denominated debts.
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