Former “Shanghai’s richest man” Zhou Zhengyi’s wife Sandy Mo Yuk-ping declared bankrupt by High Court

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Zhou Zengyi

18th May 2024 – (Shanghai) Sandy Mo Yuk-ping, the wife of former “Shanghai’s richest man” Zhou Zhengyi, has been declared bankrupt by the High Court. The court order was published today (May 17th). According to court records, the bankruptcy application was filed by MGM Grand Paradise Ltd, a subsidiary of MGM Grand Holdings Limited in Macao, which had pursued a debt of over HK$3.85 million from Mo last year. Furthermore, she was also subjected to a legal claim of HK$3.875 million by another licensed moneylender, Yixin Holdings Limited, in 2020.

Both Zhou Zhengyi and Sandy Mo Yuk-ping have previously faced imprisonment in Mainland China and Hong Kong, but they continue to be business partners. However, their multi-million-dollar luxury property in Hong Kong has been sold. It is worth noting that in 2002, Mo publicly slapped actress Kristy Yang  in Causeway Bay, accusing her of having an affair with her husband.

On 2nd May, 2023, MGM Grand filed a lawsuit against Sandy Mo, claiming a debt of HK$3.847 million. Subsequently, on 22nd November, they applied for her bankruptcy, leading to the recent court ruling. Under normal circumstances, the bankruptcy period lasts for four years. According to Hong Kong law, Mo has 28 days to file an appeal.

In addition to the debts from MGM Grand, Sandy Mo was also pursued for a sum of HK$3.875 million by Yixin Holdings Limited, a licensed moneylender, in 2020.

According to research, Zhou Zhengyi and Sandy Mo currently co-own 51% and 49% of “HONG NGAI INTERNATIONAL(HOLDINGS)LIMITED” The company previously owned a mansion at 81 Barker Road, which was sold for HK$535 million in 2017, resulting in a profit of HK$450 million. They also owned a unit at North Point Sky Horizon which was sold for HK$21.57 million in 2021, generating a profit of over HK$12 million.

There have been reports indicating that Sandy Mo had invested in and operated the “Momo Salon” Aveda hair salon in The Park Lane Hong Kong Hotel in Causeway Bay. Further investigation revealed that Mo’s son, holds shares in the salon. In 2021, Her son and his wife, sold their property at Mid-Levels Grenville House for HK$102 million. A few months later, Anya Yam purchased a unit in Baguio Villa for HK$34.5 million.