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Inter owner expected to honour $250 million debt, says the court

Inter owners Suning are expected to a honour a massive debt that is due to a finance company based in Hong Kong.

This comes from Il Sole 24 Ore, who state that the Court of Justice of the Special Administrative Region of China has ordered Steven Zhang and his father to honour the $250 million debt to the Great Matrix Finance Company.

Suning boasted revenues of $347 million back in 2018 but three years on, their debt-ridden situation was bailed out by Shenzhen Municipality and Alibaba, which bought 24% of the shares. But Suning are yet to pay Great Matrix the money that they are due.

To recover the credit, banks could draw on the assets of the Suning family. The situation of the Inter owners continues to get tricky.

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