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(Bloomberg) -- Kelly Zong Fuli, the daughter of the late Chinese billionaire Zong Qinghou and current chairperson of beverage giant Hangzhou Wahaha Group Co., is being sued in a Hong Kong court as part of an assets dispute.
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A lawsuit was filed against Kelly Zong by Jacky Zong, Jessie Zong and Jerry Zong, according to a Hong Kong court filing in late December. It couldn’t be established if the plaintiffs are related to the beverage heiress.
The trio have sought an interlocutory injunction order against Kelly Zong to prevent her from disposing of, dealing with or diminishing the value of the assets in a HSBC Holdings Plc bank account under the name of Jian Hao Ventures Ltd., which is listed as the second defendant in the case.
The plaintiffs also asked her to inform them of the latest balance in the HSBC account, and provide a “a full account of the movements of assets, income and expenditure” going back to Feb. 2 last year. Around $1.1 million had been moved out of the HSBC account as of May, according to one of the legal filings. The Hong Kong court documents also referenced another lawsuit filed by the plaintiffs against Kelly Zong in the Hangzhou Intermediate People’s Court.
Kelly Zong, dubbed the “Princess of Wahaha,” took charge of the privately owned beverage empire her father founded after the tycoon passed away last year at the age of 79.
She has had to navigate through shareholder disputes and declining sales amid a broader Chinese economic slowdown. The Hangzhou-headquartered group is one of China’s largest drink producers, known for its milk and yogurt beverages, soft drinks, bottled water, teas and fruit juices.
Jacky Zong and Jessie Zong are listed as directors of several Wahaha subsidiaries, according to Chinese commerce database Qichacha.
Kelly Zong’s law firm didn’t respond to requests for comment. The plaintiffs’ legal representative declined to comment. A spokesperson for Wahaha said the company is not aware of the lawsuit, and can’t comment because it is not related to the business.
(Updates with comments from the plaintiffs’ law firm.)
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