Core Viewpoint - The Hong Kong High Court has ruled that the liquidators of China Evergrande Group can take control of assets related to Xu Jiayin's family, with a global injunction preventing the disposal of assets valued up to $7.7 billion (approximately 55 billion RMB) [1][3]. Group 1: Asset Control and Legal Proceedings - The liquidators have requested the freezing of Xu Jiayin's family assets, which involve 33 offshore companies and 7 bank accounts held in Xu's name or through offshore entities [3][6]. - The court has allowed the liquidators to take control of these offshore companies, and the related bank accounts have been frozen, including accounts at Bank of China Hong Kong, HSBC, and DBS Bank [3][6]. - The assets under control include multiple properties in Hong Kong, the UK, and the US, as well as luxury items such as private jets, luxury cars, and yachts [3][5]. Group 2: Family Trust and Asset Protection - There are concerns that the ruling may impact a family trust established by Xu Jiayin and his wife, which is valued at $2.3 billion (approximately 16.38 billion RMB) and was set up to protect family wealth and ensure generational transfer [8][10]. - The court's ruling suggests that if the trust is deemed to be controlled by Xu Jiayin, it could be subject to the same asset freezing orders, undermining its protective purpose [9][10]. - Legal experts indicate that if a trust is structured to hide assets or evade debts, courts have the authority to "pierce" the trust and freeze the assets [9][10].