Chinese Court Orders Inter Owners Suning To Pay €250 Million Debts, Italian Media Report

Chinese Court Orders Inter Owners Suning To Pay €250 Million Debts, Italian Media Report
September 27, 2021 15:40
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Inter owners Suning have been ordered by a Chinese court to honour around €250 million worth of debt, with potential repercussions for the Nerazzurri.

This according to today’s print edition of Milan-based newspaper Il Sole 24 Ore, who report that Suning have been successfully been sued by creditors for debt associated with the Great Matrix holding company and ordered to pay the amounts that they owe.

The creditors involved in the suit are now looking into the assets of Nerazzurri President Steven Zhang and his father, Suning founder Zhang Jindong.

If the Zhangs’ shares in Inter are kept held in Luxembourg then it is unlikely that they will be accessed by the creditors and their lawyers, but instead the personal assets of the Zhangs outside of the club could be looked for.

It remains to be seen how this will affect Suning’s and the Zhangs’ running of Inter, but it appears to be one more setback for the company which has faced mounting debt and liquidity problems exacerbated by the pandemic.

By Toni Weeler

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