Macau (MNA) – The Court of First Instance (TJB) has published a notice listing nine properties and one company share owned by real estate mogul Isabel Chiang (鄭月娜) that are to be placed under provisional attachment, after requests by creditors.
Provisional attachment is a measure frequently used in civil conflicts, being a protective measure to seize or freeze property to guarantee the pay off debts.
A creditor can apply for provisional attachment towards the debtor’s properties to the court, in order to avoid the debtor to hide or change the name of his properties.
Isabel Chiang, the CEO of Kou Fu Real estate, is being investigated for her alleged involvement in a fraudulent loan scam that saw at least 72 people reporting complains to the Judiciary Police (PJ), according to the most recent police information, with the amount of loss almost reaching HK$330 million (US$42.2 million).
Among the properties listed on the notice, six are commercial and residential units around Travessa do Armazém Velho and Rua dos Ervanários, with three of them being commercial units in Caminho dos Artilheiros.
A share held by Chiang in the property management company responsible for the Hellene Garden property in Coloane was also placed provisional attachment.
The Court decided the assets freezing ruling on December 7 in 2018 and published the notice on Saturday.
Isabel Chiang – who is believed to have previously left Macau to the Philippines – can appeal to the decision or issues a defense within 10 days after the public notice.
