Billionaire’s son Wang Sicong, who owes US$21.6 million, ordered to stick to the bare necessities
- No more first-class travel, holidays or buying property for son of Dalian Wanda Group chairman after ruling by Shanghai court
- Decision comes after Wang loses case brought by e-sports gaming host over US$515,000 contract dispute
Issued by Shanghai Jiading District Court last month, the order came following a request by Cao Yue, an e-sports gaming host who in December last year won a lawsuit against Shanghai Panda Entertainment Co – founded by Wang Jnr – involving a 3.6 million yuan (US$515,000) contract dispute, the document said.
On Monday, the Beijing No 2 Intermediate People’s Court, named the 31-year-old Wang as being personally liable in a financial dispute involving about 151 million yuan.
Under the Shanghai ruling, Wang is banned from buying property, going on holiday, flying, travelling first class on boats and trains – including China’s high-speed rail network – staying in star-rated hotels, visiting nightclubs and playing golf.
Subject to approval by the district court, any of the restrictions may be lifted temporarily if deemed to be restrictive to Wang’s genuine business activities.
