Months Or Years Before A Decision Expected To Arrive In Chinese Bank’s Lawsuit Against Inter Milan President Steven Zhang

It is set to be a long wait for a decision from an Italian court regarding a hearing in a lawsuit against Inter President Steven Zhang by a Chinese bank.

This according to today’s print edition of Turin-based newspaper Tuttosport, via FCInterNews, who report that it will be “months or years” before the decision comes based on a hearing yesterday in the Chinese Construction Bank (Asia) Corporate (CCBA) seeking Zhang’s assets.

The Nerazzurri President has been the subject of a lawsuit from the CCBA who are aiming to collect on unpaid debts related to business dealings in China.

The bank are seeking to collect on around €300 million in unpaid debts from Zhang, and allege in their suit that the Nerazzurri President has hidden assets in order to avoid paying the debts.

As part of the suit, CCBA have been looking into the Inter President’s assets in the US, and according to Milano Finanza, are starting to get serious about looking into his assets in Italy, particularly those related to the Nerazzurri.

As part of their search for assets on which to collect, the CCBA have been looking to obtain documents from US-based investment bank Goldman Sachs, related to their work with the Nerazzurri and Zhang searching for potential investors or buyers in the club.

Additionally, the bank have also loked to obtain documents from Oaktree Capital, the US-based fund from which Suning took on a massive loan in 2021 to inject operating liquidity into the Nerazzurri amid post-pandemic financial troubles.

The CCBA are also seeking to have the minutes of the Inter board of directors which resolved to withhold salary payments from Zhang annulled in a civil action in an Italian court, and this was what the hearing that was held yesterday pertained to.

Whilst the hearing has concluded, Tuttosport report that there will be a re-adjourning tomorrow where the date when the decision arrives will be set.

In any event, it will be some time before that decision actually comes, with the newspaper reporting that it is set to be a matter of “months or years.”