A private equity firm is attempting to seize a Vancouver luxury home from a couple who was allegedly involved in the misappropriation of millions of dollars meant for a hospital in China.
In a May 29 petition, Wuhu Yuanxiang Tianying Investment Management Centre called on the B.C. Supreme Court to enforce a 2024 decision from the China International Economic and Trade Arbitration Commission (CIETAC).
CIETAC’s intervened after Wuhu said it invested about $18 million to help build the Shenyang Meideyin Women and Children Hospital—a private for-profit hospital in northeastern China.
Two Chinese nationals—Yanwei Li and Junna Yang—are alleged to be founders and shareholders in the project. The petition claims
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